According to the annual key work deployment of Soho Holding Group, the reorganized and integrated Jiangsu Soho Innovation and Technology Group was officially inaugurated on April 30, 2024, and its Sainty Shipbuilding (Yangzhou) signed orders for a number of new vessels within just two months.
Since May this year, Soho Innovation and Technology Group has taken shipbuilding as a breakthrough, and its Sainty Shipbuilding (Yangzhou) has signed contracts for the construction of a total of 10 63,500DWT bulk carriers with domestic and foreign shipowners such as Sea Traders, China Development Bank Leasing, Jiangsu Ocean Shipping and other domestic and foreign shipowners signed a total of 10 63,500DWT bulk carrier construction contract, the contract amount of nearly US$ 320 million (about 2.328 billion yuan). And there are another eight new vessels are under negotiation, the contract amount is expected to be The estimated contract amount is more than US$260 million (about 1.891 billion yuan). At the same time, Soho Innovation and Technology Group deeply implements the strategy of science and technology empowerment, takes advantage of the east wind of national policies, and actively promotes the transformation and upgrading of Sainty Shipbuilding (Yangzhou).
According to Soho Innovation and Technology Group, Sainty Shipbuilding (Yangzhou) has been engaged in the processing business of supplied materials for quite a long period of time, with under-utilized resources, weak operational vitality and low economic efficiency. The reorganization and integration brings Sainty Shipbuilding (Yangzhou) a rare development opportunity. Soho Innovation and Technology Group has established the advanced shipbuilding segment as one of the company’s core businesses, and vigorously promoted Sainty Shipbuilding (Yangzhou) to change its business philosophy, clarify its development ideas, and cast its advantageous products.
With the signing of the construction contract for 10 63,500DWT bulk carriers and the negotiation of orders for 8 more, Sainty Shipbuilding (Yangzhou) has already scheduled its production program until the end of 2027. The first four 63,500DWT bulk carriers were ordered by Jiangsu Ocean Shipping, and this shipbuilding cooperation with domestic and foreign shipowners will help Soho Innovation and Technology Group to develop domestic and international market in shipbuilding industry.
Data show that Sainty Shipbuilding (Yangzhou) was originally a subsidiary of Jiangsu Sainty Marine Corp (Sainty Marine) was established in September 2004. At present, it covers an area of about 1,050 mu, with a shoreline length of 930 m. It owns 1 dock, 1 slipway, 2 outfitting wharves, equipped with 2 sets of 500-ton gantry cranes, and advanced shipbuilding special equipment. And its main products are bulk carriers below 100,000 tons, container ships, heavy lift vessels, multi-purpose vessels, and offshore engineering vessels.
It is understood that Sainty Shipbuilding (Yangzhou) was originally a third-tier company of Jiangsu Guoxin Investment Group, which was restructured from Jiangsu Sainty Marine. In 2011, Sainty Marine was listed on the Shenzhen Stock Exchange; since 2013, Sainty Marine has suffered serious losses, and ultimately declared bankruptcy and reorganization in 2016, which was the first bankruptcy of a listed shipbuilding enterprise in China. It was the first listed shipbuilding company to go bankrupt in China. Subsequently, Jiangsu Guoxin Investment Group saved Sunshine Shipbuilding, which was about to be delisted, by injecting assets in exchange for shares. in March 2017, Sainty Marine changed its name to Jiangsu Guoxin Company Limited and announced that it was “withdrawing from the shipbuilding industry”.
In 2016, Jiangsu Sainty Assets Management Company Limited of Jiangsu Guoxin Group was established. In order to ensure the smooth progress of the reorganization process of Sainty Marine, in May 2016, the administrator entered into the Asset Transfer Agreement with Sainty Assets, transferring all the properties of Sainty Marine other than monetary funds to the company by agreement.
On January 6, 2020, a 45-meter offshore auxiliary platform vessel constructed by Sainty Assets was signed and delivered at Sainty Shipbuilding (Yangzhou), which is also the first newbuilding project undertaken by Sainty Assets since its establishment.
In May 2021, Sainty Shipbuilding (Yangzhou) delivered the 4,600T offshore wind power construction vessel “Guansheng Yihang”. The vessel was constructed by TZ (Tianjin) Binhai Heavy Machinery on leased space and equipment from YSainty Shipbuilding (Yangzhou), and Sainty Shipbuilding (Yangzhou) was responsible for the equipment and service work required during the construction process.
