Several instances are being mentioned in the market of foreign or Hong Kong owners being approached to manage ships being held for sale either by shipbuilders or as a result of financial restructurings. Observers suggest that such cases are more typically handled within China.
In one such recent deal, Shanghai Waigaoqiao Shipbuilding (SWS) has turned to old customer Wah Kwong after another old client, Foremost Maritime, found it had no further use for an ownerless SWS capesize.
