The coming of the association, the last day of July, the company declared bankruptcy. Since December last year, China has a number of shipbuilding enterprises bankruptcy. Industry insiders said that the current shipbuilding industry orders reduced, overcapacity, due to the shipping downturn, with the reduction of orders, the number of bankrupt enterprises will further increase, the industry reshuffle intensified.

After a series of self-help, restructuring and other measures, the German heavy industry eventually did not get rid of the fate of bankruptcy. July 31st, the end of the German heavy industry, the court ruled that the termination of Nantong Ming Tak Heavy Industries Co., Ltd. restructuring process and declared Nantong Ming German heavy industry Co.ltd.

With the global shipping and shipbuilding industry downturn, China's shipbuilding industry into the "winter", fewer orders, financing, idle capacity and other problems will continue to "torture" the shipbuilding enterprise, Rongsheng, Hang Fu shipbuilding, shipping industry and other industry star enterprise have reorganization or bankruptcy, the industry reshuffle.

In industry "winter", Mingde has not spared, in order to find a way out of the predicament losses, Mingde started cooperation with Jiangsu Sainty Marine Co., Ltd. and other enterprises, joint orders.

However, Mingde heavy wage is insolvent, the largest creditor Sainty marine desire of reforming the acquisition, but also into the troubled assets, then set into. Mingde also trapped in the ship Sainty reorganization, will be placed in jeopardy.

Mingde for failing to pay off debts and its assets are not sufficient to pay off all the creditors, filed for bankruptcy protection in December last year, the largest creditor - "debt equity swap" deal - Jiangsu Sainty Marine Co., Ltd. plans through acquisition of Mingde. Today, however, reforming party Sainty marine also fall into the plight of the assets, said unable to mobilize more resources to support Mingde restructuring projects, so give up the acquisition of Mingde.

To this end, the company has requested the approval of the local court of the appropriate extension of the reorganization period, in July 9th, the announcement to the public announcement of the restructuring of the public interest in the recruitment of investors, as of July 30th 16. "With sufficient funds to carry out the restructuring of investment, and to provide the corresponding credit certificate or other compliance capabilities to prove" and "with the restructuring of the company's ability to adapt to the restructuring and management capabilities" of the enterprise to become the last of the "life-saving straw"".

However, due to Sainty marine rickety has abandoned Mingde bankruptcy reorganization, under the current market situation, the short term apparently did not enterprises have the ability to access disk, so the choice of bankruptcy Mingde became the only choice.

The bankruptcy of the German company is just a microcosm of the current downturn in the shipbuilding industry. In March this year, due to the continued decline in the shipbuilding industry and internal management, the eastern heavy industry to Taizhou City, Jiangsu Province, the intermediate people's court for debt restructuring. That same month, due to the lack of active participation of the potential of the reorganizing party, the largest foreign shipbuilder STX Dalian group according to the procedure for bankruptcy liquidation. In April, Wenzhou's largest shipbuilding Zhuangji shipping industry announced the bankruptcy reorganization. In May, it filed an application for reorganization and shipbuilding, shipbuilding enterprises bankruptcies increased sharply.

In addition to the increase in the number of bankrupt enterprises, many enterprises are also caught in a profit decline and financial distress. Data show that from 1 to May, the scale of shipbuilding industrial enterprises to achieve a total profit of 8540000000 yuan, down 13.3%. Among them, the ship manufacturing enterprises of 4810000000 yuan, down 11.3%, the ship repair business for 180000000 yuan, down 8.2%. In late April, known as "China's largest private shipbuilding enterprises of Rongsheng officially changed its name to China Rong Energy Co., Ltd., a comprehensive transformation of the development of petroleum and natural gas. March, the sea ship announced the results of the year ended December 31, 2014, a loss of 633000000 yuan.