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.

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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).