Sinopacific Shipyard job cuts

Sinopacific Shipbuilding Group (SSG) is restructuring one of its yards, Dayang Shipbuilding has not been in operation since it closed for the Lunar New Year. China/Yangzhou based shipyard is said to be behind in paying workers’ wages for several months and that it is planning to reduce the workforce by 30% of 1,600 employees. SSG Shipyard built its success on the fuel efficient Crown bulker design during the market peak.