Fujian Crown Ocean Shipbuilding Out of Service

zoom Chinese shipbuilding enterprise Fujian Crown Ocean Shipbuilding has seen most of its staff leave the shipyard due to unpaid wages amounting to around USD 1.6 million, according to local media. The loss of some 100 yard workers since July 2015 has negatively affected the shipyards operations which had already been hit by reduced newbuilding orders. After the workers filed a lawsuit against the company in July, Fujian was ordered to pay the wages by October, with payments yet to be made. The company attempted to get back on track by leasing parts of the shipyard and selling a 80,500 dwt bulk carrier under construction at the time for scrap. The income from these actions was not represented in the companys books. Fujian Crown Ocean Shipbuilding, despite not being able to continue its operations, did not yet file for bankruptcy. Fujian Shipbuilding is no stranger to financial difficulties. The company went through a similar situation back in January 2012 when its workers organized a strike over unpaid wages for up to three months. World Maritime News Staff