On May 25, 2025, the MC GAEA, a 50,000-ton chemical and oil tanker—the first vessel constructed by Yangzhou Guoyu Shipbuilding Co., Ltd. (“Guoyu Shipyard”) following DCL Investments’ participation as a restructuring investor—was successfully launched. The vessel’s construction, from commencement to launch, was completed in just seven and a half months, setting a global record for ships of its class.
At the launch ceremony, Ms. Zheng Hualing, Chairwoman of DCL Investments, delivered a speech expressing gratitude to the local government for its support in Guoyu Shipyard’s restructuring, to the shipowner for its trust, and to the shipyard’s management team for their dedication. She emphasized that the collective efforts of all stakeholders were instrumental in Guoyu Shipyard’s remarkable turnaround.
Caption: Ms. Zheng Hualing, Chairwoman of DCL Investments, attends the launching ceremony and delivers a speech.
The restructuring of Guoyu Shipyard represents a flagship case for DCL Investments in revitalizing distressed enterprises. After thorough due diligence and industry analysis, DCL Investments identified Guoyu Shipyard’s intrinsic value, including its strategic location, robust production capabilities, and premium shoreline resources, despite previous challenges stemming from shareholder issues and cyclical industry downturns. Following court approval of the restructuring plan on July 12, 2024, DCL Investments appointed a top-tier management team and swiftly resumed operations. The record-breaking launch of the MC GAEA signifies Guoyu Shipyard’s full recovery and positions it to capitalize on the current shipbuilding upcycle.
For DCL Investments, this investment also strengthens its strategic footprint in the shipping and logistics sector. Shipbuilding restructuring opportunities remain a key focus, particularly as China’s shipbuilding industry continues to gain global prominence through technological advancements and supply chain advantages.
According to China’s Ministry of Industry and Information Technology, the country’s 2024 shipbuilding output reached 48.18 million deadweight tons (DWT), a 13.8% year-on-year increase, while new orders surged 58.8% to 113.05 million DWT. By year-end, order backlogs stood at 208.72 million DWT, up 49.7%. China now accounts for 55.7%, 74.1%, and 63.1% of global shipbuilding completions, new orders, and order backlogs, respectively—a testament to the industry’s resilience and one that aligns with DCL Investments’ long-standing outlook.
Moving forward, DCL Investments will continue to target core assets—including real estate, infrastructure, shipping, logistics, and energy—that underpin essential economic activities. By identifying high-quality restructuring and M&A opportunities, the firm remains committed to fostering sustainable growth, supporting the real economy, and delivering stable returns to investors.
Caption: The Guoyu Shipyard facility in urgent need of renovation and management prior to restructuring.
Caption: Reborn Guoyu Shipyard under DCL Investments’ restructuring successfully launches first vessel
