DALIAN, China -- China State Shipbuilding Corp. has set sail on efforts to streamline operations and develop new technologies, starting with the bankruptcy of a Tianjin shipyard that has long struggled with debt.
The move is unusual for a state-owned Chinese company, which typically is expected to maintain and even expand employment. But China's leading shipbuilder looks to trim the fat so it can focus more resources on ammonia-fueled vessels and other emerging areas.
