Judger to sell ships to survive despite government’s support

With financial crisis weighing down tight, Judger Shipbuilding is trying to dispose off two 82000dwt bulkers to improve the company’s finance position. In fact, Wenzhou government has extended possible help from its “emergency fund pool” which was established by the government with the objective of helping major local enterprises. It has also written to the banks to offer favourable loans to Judger and allow the company to repay the loans by equivalent collaterals in order to increase the operating capital of the Judger Shipbuilding.

One local economic analyst said that Judger might walk out of the crisis of bankruptcy with the assistance of the government and the banks. Another analyst expressed a different view: “If you could not survive without bank loans, that are your own problem, you can’t blame the banks”.

All is not lost that is in peril.

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