Chengxi Shipyard transfers repair yard to Wenchong

CSSC-affiliated Chengxi Shipyard announced yesterday that its ship repair subsidiary Chengxi Shipyard (Guangzhou) plans to sell one of its two ship repair facilities in Guangzhou to Wenchong Shipyard for RMB261.31m.
Chengxi Shipyard said overcapacity in the ship repair industry is still very serious, the company has decided to sell the facility in order to improve operation and optimize capacity structure.
Source: Sino Ship News