The shipyard was purchased and restructured by Ningbo Ningshing Holdings, which was formally known as Longlida Shipyard based in Zhoushan.

The newly established shipyard will be engaged in building reefer vessels, bulk carriers, container vessels, barges, product oil tankers, chemical tankers and tugboats, as well as ship repair.

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Ningshing Holdings has been running shipbuilding business for several years. Shanghai Ningshing Marine International, a subsidiary of Ningbo Ningshing Trading Group, specializing in shipbroking business for newbuildings, secondhand vessel and ship demolition.

The opening of the new shipyard will further strengthen the company’s position in shipbuilding and repair market.

Once the shipyard has commenced operations, it will further expand business scope and develop offshore products.