China’s DSIC Offshore has emerged from bankruptcy proceedings as Dalian Shipbuilding Offshore Company Ltd (DSOC) in a restructuring designed to streamline management and better position the company to capitalise on the growing market for floating production, storage and offloading units and carbon dioxide carriers.

The revamped company, based in the northeastern city of Dalian in Liaoning province, has a diverse ownership structure featuring several banks, including the Import-Export Bank of China, which were once creditors of DSIC Offshore, along with the Dalian Shipbuilding Industry Company (DSIC).