Jiangsu Lianyungang Port announced in May 6 that due to suffer from the effects of international financial and economic depression, the joint stock company COSCO Lianyungang Shipyard was decided to be closed.

Recently, the shipbuilding service of the company sharply declined and suffered consecutive losses.

COSCO Lianyungang Shipyard was officially opened by COSCO Shipyard and Lianyungang Port in March 27, 2008.