Hengli Shipbuilding bags four bulker newbuilds

Hengli Shipbuilding, the yard formerly known as STX Dalian, has cemented its revival with orders from compatriot owner Haixing Shipping for four 82,000 dwt bulk carriers. 

The latest contact follows on from orders last November for four 20,000 dwt bulk carriers. 

Hengli Heavy Industry Group, a subsidiary of petrochemical giant Hengli Group, paid RMB1.729bn ($257m) to acquire all the assets of STX Dalian last year.

STX Dalian was one of the largest shipyards in the world in terms of area space when it was founded in 2006. It went bankrupt in 2014 due to a financial crisis at its parent in South Korea leaving over 20,000 employees out of work. 

Another shuttered Chinese shipyard is looking to reactivate amid a period where the global ship orderbook is swelling.

Jinhai Intelligent Manufacturing, formerly called Jinhai Heavy Industries, is seeking to rent out its yard to a fellow Chinese shipbuilder.

Zhejiang-based Jinhai was saddled with huge debts racked up by its parent HNA Group. It last delivered a ship back in 2019.

Founded in 2005 in the Zhoushan archipelago near Ningbo, Jinhai has eight docks, and focused on offering both newbuild and repair projects. Its largest dock allows for valemax bulk carriers, megamax containerships or VLCCs to be built.

China has seen many yards that sprouted up during the shipping boom of 2003 to 2008 reopen in the past 12 months including Weihai Samjin Shipbuilding and Rongsheng Heavy Industries, now rebranded as SPS Shipyard.

According to brokers Braemar, 2021-22 marked the most active period for the global shipbuilding industry since the 2006-08 and 2013-15 booms. As such, major yards’ forward cover now extends well into 26.