COSCO (Lianyungang) Shipyard of China is said to have closed down because of the global economic recession.  

Owning shares of COSCO (Lianyungang), China’s Jiangsu Lianyungang Port has announced that closedown was settled at the general meeting of stockholders since the yard experienced declined orders in sectors such as ship repair and etc. and reported losses, having faced a management difficulty.

COSCO (Lianyungang) Shipyard was established in March, 2008, jointly financed by Jiangsu Lianyungang Port and COSCO Shipyard Group.

Jiangsu Lianyungang Port has announced on May 6 that it received a “Closedown Resolution of COSCO (Lianyungang) Shipyard” at the general meeting of COSCO (Lianyungang) stockholders.