Tuesday, March 31, 2015
rongsheng heavy industries shipyard shipbuilding
News

China Rongsheng Reports Negative Revenue as Newbuild Orders Canceled

China Rongsheng Heavy Industries Group Holdings Ltd., the shipyard that has become symbolic of a credit glut gone wrong, said a spate of canceled orders led to negative sales for the year and warned again that it could go out of business.

March 31, 2015
Total Views: 8

Monday, March 16, 2015
rongsheng heavy industries shipyard shipbuilding
Maritime News

China Rongsheng to Sell Shipbuilding and Offshore Engineering Businesses

China Rongsheng Heavy Industries Group Holdings Ltd., the shipbuilder whose woes made it a symbol of the country’s credit binge, said it planned to sell assets to an unidentified Chinese acquirer.

March 16, 2015
Total Views: 20

Wednesday, March 4, 2015
rongsheng heavy industries shipyard shipbuilding
Finance

China Rongsheng Suspends Warrant Issue as Investor Detained

China Rongsheng Heavy Industries Group Holdings Ltd., once the country’s largest private shipyard, said it will not proceed with a proposed warrant sale after a potential investor who pledged as much as HK$3.2 billion ($413 million) was detained.

March 4, 2015
Total Views: 1

Wednesday, September 3, 2014
rongsheng heavy industries shipyard shipbuilding
Maritime News

Dryships Cancels Newbuild Orders at Rongsheng

NASDAQ-listed DryShips Inc. (DRYS) says it has pulled the trigger on the cancellation of newbuilding contracts for four four ice-class panamax bulker vessels with Jiangsu Rongsheng Heavy Industries in China.

September 3, 2014
Total Views: 0

Friday, August 29, 2014
rongsheng heavy industries shipyard shipbuilding
Shipbuilding

China Rongsheng to Announce Restructuring Amid Exponential Losses

China Rongsheng Heavy Industries Group, the country's largest private shipbuilder, said its first-half net loss widened more than ten times as shipowners continued to postpone vessel deliveries amid a prolonged industry slump.

August 29, 2014
Total Views: 1

Friday, August 1, 2014
vale china vloc rongsheng heavy industries
Finance

Rongsheng Heavy Industries’ First Half Losses to be North of $213 Million

Beleaguered Chinese shipyard Rongsheng Heavy Industries issued a profit warning today to shareholders that the company is “expected to incur a significant increase in net loss for the six months...

August 1, 2014
Total Views: 1

Monday, March 31, 2014
rongsheng heavy industries
Finance

Rongsheng Heavy in the Spotlight After Reporting Massive Loss

By Yimou Lee and Umesh Desai HONG KONG, March 31 (Reuters) – China Rongsheng Heavy Industries Group has agreed with banks to extend loans and other financing worth 10 billion...

March 31, 2014
Total Views: 0

Sunday, March 30, 2014
News

China’s Private Sector Shipyards Hammered in 2013

Private-sector shipyards such as Rongsheng Heavy Industries and China Ocean Shipbuilding Industry Group Ltd report another very tough year of losses in 2013 with both yards taking drastic measures to...

March 30, 2014
Total Views: 2

Friday, December 6, 2013
rongsheng heavy industries shipyard shipbuilding
News

China Rongsheng Ghost Town Reflects Shipbuilder’s Struggle To Survive

By Adam Jourdan and Keith Wallis RUGAO, China/SINGAPORE, Dec 6 (Reuters) – Deserted flats and boarded-up shops in the Yangtze river town of Changqingcun serve as a blunt reminder of...

December 6, 2013
Total Views: 2

Wednesday, December 4, 2013
rongsheng heavy industries
News

China Rongsheng Flags ‘Substantial’ Full-Year Loss

China Rongsheng Heavy Industries Group, the country's largest private shipbuilder, said on Wednesday it expects to report a substantial full-year loss just months after it appealed to the government for financial help.

December 4, 2013
Total Views: 6

Wednesday, November 20, 2013
rongsheng heavy industries
Finance

Credit-Driven China Glut Threatens to Spark Bank Debt Crisis

Nov. 19 (Bloomberg) — In China’s “Shipping Valley,” where the Yangtze River empties into the sea north of Shanghai, the once-bustling home of the nation’s biggest private shipbuilder is deadly...

November 20, 2013
Total Views: 2

Wednesday, July 31, 2013
rongsheng heavy industries
Finance

China Rongsheng to Issue $180 Million in Convertible Bonds

Rongsheng Heavy Industries announced in a stock filing today their plan to issue HK$1,400,000,000 (USD $180 million) in convertible bonds in an effort to help subsidize the growth of their...

July 31, 2013
Total Views: 0

Thursday, July 11, 2013
rongsheng heavy
News

Court Approves China Rongsheng Legal Action To Reclaim $103 Million

HONG KONG/SINGAPORE, July 11 (Reuters) – A court has granted a unit of China Rongsheng Heavy Industries approval to proceed with legal action to reclaim a 630 million yuan ($103...

July 11, 2013
Total Views: 2

Tuesday, July 9, 2013
rongsheng heavy industries
Finance

In Dire Straits: Rongsheng Heavy Seeking Financial Support from Chinese Cities

(Bloomberg) — China Rongsheng Heavy Industries Group Holdings Ltd. is in talks with two coastal cities and government departments to secure financial assistance, as the nation’s shipowners association forecast a...

July 9, 2013
Total Views: 2

Sunday, July 7, 2013
rongsheng heavy industries
Finance

Is Struggling Shipbuilder China Rongsheng Too Big To Fail?

By Koh Gui Qing and Yimou Lee HONG KONG/BEIJING, July 8 (Reuters) – An appeal for government financial support from China’s biggest private shipbuilder presents authorities with some stark choices...

July 7, 2013
Total Views: 2

Friday, July 5, 2013
vale rio de janeiro vloc
News

China Rongsheng, Symbol Of Shipping Downturn, Seeks Government Help

China Rongsheng Heavy Industries Group, China's largest private shipbuilder, appealed for financial help from the Chinese government and big shareholders on Friday after cutting its workforce and delaying payments to suppliers.

July 5, 2013
Total Views: 6

Thursday, July 4, 2013
rongsheng heavy industries
Finance

China Rongsheng Halts Share Trading After Report of 8,000 Job Cuts

(Bloomberg) — China Rongsheng Heavy Industries Group Holdings Ltd., the nation’s biggest shipyard outside state control, halted share trading today after a report the company recently pared about 8,000 jobs....

July 4, 2013
Total Views: 15

Tuesday, March 26, 2013
rongsheng heavy industries
Engineering News

Rongsheng Heavy Posts Biggest Loss Since 2007

As forewarned in December, Chinese shipbuilder Rongsheng Heavy Industries, posted a 2012 loss of USD $92 million, the opposite of the $90 million profit they were predicted to achieve according to...

March 26, 2013
Total Views: 0

Monday, March 25, 2013
jackup rig port aransas collision
Offshore

China Rongsheng Breaks Into Jack-Up Rig Market with New Order

HONG KONG, March 25 (Reuters) – China Rongsheng Heavy Industries Group Holdings Ltd won its first orders to build two jack-up rigs worth more than $360 million in Singapore as...

March 25, 2013
Total Views: 1

Wednesday, January 9, 2013
keppel fels shipyard tuas
Offshore

China Shipyards Set to Spark Price War Among Rigmakers

By Kyunghee Park and Jasmine Wang China’s shipbuilders are set to spark a price war in the oil-rig market. With orders for new ships plunging to an eight-year low in...

January 9, 2013
Total Views: 28