State-owned rig outfit offers lifeline to Chinese yards

New management company looking to monetise abandoned offshore units via sales or leases

Challenges: the CIMC Raffles yard in Yantai, in China's Shandong province — Challenges: the CIMC Raffles yard in Yantai, in China's Shandong provincePhoto: CIMC RAFFLES

Xu Yihe

Beijing

China China Focus CIMC Raffles ZPMC Cosco Qidong Shipyard

Published 13 March 2019, 17:04Updated 25 March 2019, 12:43