ZPMC sets up new subsidiaries to reform businesses

Shanghai Zhenhua Heavy Industries Company (ZPMC) has established a new subsidiary as part of a business reform, following an earlier move of setting up six new sub-groups. ...

CH Offshore recoups $60m in unpaid charter fees from PDVSA subsidiaries

Singapore-based CH Offshore has claimed back $60m of outstanding vessel charter fees from the subsidiaries of Venezuela’s state oil firm PDVSA, after a legal proceeding spanning close to three years. ...

Judger’s debt-ridden shipbuilding subsidiaries seek investors

Debt-ridden Judger Shipbuilding and Yuandong Shipyard, both subsidiaries of Judger Group, are looking for investors to lift them out of trouble, according to the receivers of the companies. ...

Zhuangji’s debt-ridden shipbuilding subsidiaries hold creditors meeting

China’s Zhejiang Zhuangji Ship Industry and Wenzhou Yuandong Shipyard, both subsidiaries of Zhuangji Group, have held a creditors meeting on Wednesday, as they entered into the restructuring phase, reports said. ...

OW Bunker faces insolvency, files for in-court restructuring of subsidiaries

OW Bunker has filed for in-court restructuring for major parts of its business and the subsidiaries involved face insolvency following the uncovering a $125m fraud in Singapore and a $150m risk management loss.

Cosco subsidiaries secure shipbuilding contracts worth over $276m in all

Offshore and marine group Cosco Corporation (Singapore) said on Tuesday that its subsidiaries have secured several...