Marine link
 

China Shipbuilding

Consortium Formed to Invest in China Shipbuilding

At the invitation of China Steel Corp. (CSC) and Yang Ming Marine Transport Corp., Wan Hai Lines Ltd. has shown its willingness to enter into a consortium led by CSC to invest in the state-run China Shipbuilding Corp., which has decided to go private through public bidding, according to a report on Taiwan Headlines. China Shipbuilding estimated it would sell a 51 percent up to 66 percent stake to become a privately owned firm. Potential buyers of the China Shipbuilding shares include Evergreen Marine Corp., Taiwan Navigation Co., Yang Ming Marine Transport Corp., Yung Chi Paint & Varnish Mfg. Co., Kuang Tai Co., Wan Hai Lines Ltd., China Steel Corp., MPH, BAE of the U.S., Mitsubishi of Japan, and Hyundai of South Korea. The CSC-led consortium will also contain China Shipbuilding's downstream firms, such as Yung Chi Paint & Varnish Mfg. Co. If everything goes smoothly, China Shipbuilding will have a new management team comprised of its downstream firms and its two-largest clients-Yang Ming and Wan Hai. Yang Ming has contracted China Shipbuilding to build 22 vessels that will be delivered by the end of 2009; Wan Hai currently has 10 vessels under construction by China Shipbuilding that will be delivered by the end of 2008. Wan Hai chairman Chen Chao-heng said his company would give first priority to participating in the CSC-led consortium, rather than in another group led by the MPH Group of the U.S.


McDermott Enters China JV

  CNN reported that one of McDermott International Inc.’s subsidiaries has entered into a joint venture with a subsidiary of the state-owned China Shipbuilding Industry Corp. The joint venture company, Qingdao McDermott Wuchuan Offshore Engineering Company Ltd., plans to establish a new location on over 111 acres in .  The facility is expected to be located next to two new China Shipbuilding shipyards. China Shipbuilding has one floating dock and five drydocks in the area


Taiwan Invites Stake in China Shipbuilding

The Taiwan Government is inviting bids for a majority stake in China Shipbuilding Corp, the island’s biggest shipbuilder, to help the company become more competitive and raise funds for public spending, according to a Bloomburg report. The Government aims to sell a stake of between 51 per cent and 66 per cent in the company, the shipbuilder said in a statement published in Taipei’s Commercial Times. The stake offered includes three billion new shares.


EU Inquiry Deadline into China Shipbuilding, Mitsubishi

The European Commission said the deadline for its inquiry into China Shipbuilding Industry Corporation (CSIC), Japan's Mitsubishi Heavy Industries (MHI) and Wartsila Oyj's proposed marine engine manufacturing joint venture is set for April 26. CSIC will hold 50 percent of the venture, while Wartsila will have 27 percent and Mitsubishi 23 percent.


China Shipbuilder CSIC Diversifies Operations

China Shipbuilding Industry Corporation (CSIC) signs agreement with Sansha Municipal Government to work on infrastructure energy & water resources. China's major ship-building conglomerate will start infrastructure, energy and water resources projects in Sansha, the country's southernmost city in the South China Sea, reports China Daily. The Sansha Municipal Government signed a package of cooperation agreements with China Shipbuilding Industry Corporation


China Ocean Orders Four VLCC's

COSCO CSIC signing ceremmony: Image courtesy of COSCO Group

COSCO Group has ordered 4 Very Large Crude Carriers (VLCC) from China Shipbuilding Industry Corporation (CSIC). The ceremony was attended by Chairman Ma Zehua, President Li Yunpeng, Chief Financial Officer Sun Yueying, and Executive Vice President Ye Weilong of COSCO Group, as well as President Li Changyin, Executive Vice President Dong Qiang and Executive Vice President Sun Bo from CSIC. COSCO inform that managers and executives from relevant departments and subsidiaries of the two


China's first LNG Ship Sets Sails

China's first liquefied natural gas (LNG) ship sailed out of the shipyard in Shanghai, marking China's shipbuilding industry stepping into a new era, according to a report on www.chinadaily.com. Sources from the China State Shipbuilding Corp (CSSC) said the LNG ship was built by CSSC's Shanghai subsidiary, the Hudong-Zhonghua shipbuilding (Group) Co Ltd. China reportedly has invested more than 100million yuan on the research of the LNG ship in recent years.


Petroleos de Venezuela Orders 18 Tankers

Petroleos de Venezuela SA said it will buy 18 oil tankers from China for $1.3b as South America's largest oil firm seeks to boost exports to Asia. Orders for the tankers were placed with China State Shipbuilding Corp., and China Shipbuilding Industry Corp. A timetable wasn't provided for deliveries. (Source: Toronto Star)


Wärtsilä Expands in China

Wärtsilä has signed a letter of intent with China Shipbuilding Industry Corporation (CSIC) to set up a 50/50 joint venture to manufacture marine auxiliary engines in China. The location of the new factory will be in the Shanghai area. The intention is to start the production of the defined Auxpac W20 generating sets for the growing shipbuilding market in China and to sell these through Wärtsilä global network. Auxiliary engines are used for producing electricity in ships.


China's Shipbuilding Hub Faces Precipice

Jiangsu Province’s Economic and Information Technology Commission reviews Q1 2013 province-wide  shipyard finances. The review of the shipbuilding industry’s performance showed that 44 privately-owned shipbuilders out of 66 failed to win new orders and none of major seven builders could ink a contract, with 30% of large corporations recording a loss, reports China Shipbuilding Industry Co. Shipbuilders’ profit margins in Jiangsu appear to be sharply decreasing from


CSIC, CSSC Dismiss Shipbuilder Merger Rumors

China's state-backed shipbuilding giants said they have not received any merger-related information from authorities, after an executive swap between the firms sparked a market rally in their shares. The pair are the latest state firms to see merger rumours trigger jumps in their share prices


African, Chinese Shipbuilders Form Partnership

Prasheen Maharaj (left), CEO of Southern Africa Shipyards, seals the deal with Ye Fengsheng of China Shipbuilding Trading Company. (Photo courtesy of SAS)

Southern African Shipyards (SAS) has entered into a Memorandum of Understanding (MOU) with China Shipbuilding Trading Company (CSTC), a subsidiary of China State Shipbuilding Corporation, in a union between the largest shipyard in Southern Africa and the largest shipbuilding group in the world.


China Probes Executives of CSIC, COSCO

Chinas first built 300,000 dwt VLCC. Pic by China Shipbuilding Industry Corporation

 China Shipbuilding Industry Corporation (CSIC) and China Ocean Shipping Company (Cosco) are being probed in China’s national anti-corruption scheme, according to a report in the Reuters.   The Central Commission for Discipline Inspection (CCDI) has not named any company


Evac's Total Waste Management for Atlantic Mercy

Atlantic Mercy (Photo: EVAC)

The global cleantech company Evac has been chosen to supply its total waste management system to the world’s largest civilian hospital ship, the Atlantic Mercy. Owned and operated by the nonprofit Mercy Ships, the ship will provide medical care in the poorest parts of Africa


Deltamarin Designs Hospital Ship

Deltamarin designs the worlds largest hospital ship for Mercy Ships to be built at Tianjin Xingang Shipyard. (Image copyright: Mercy Ships)

Deltamarin announced a design contract awarded by China Shipbuilding Industry Corporation (CSIC) for the new 37,000 GRT (Gross Register Tonnage) hospital ship to be built for Mercy Ships at Tianjin Xingang Shipyard. Deltamarin’s contract includes approval


Evergreen Name Fifth New Containership

Naming ceremony: Photo Evergreen Group

Evergreen Goup say that their newbuild 'Ever Lissome', the fifth of its L-type containerships to be built by CSBC Corporation in Taiwan, has been named in a recent shipyard ceremony. The ceremony took place at China Shipbuilding Company's Kaohsiung shipyard and was officiated by Raymond Lin


COSCO Orders Deltamarin B.Deltas

Rendering of a B.Delta37 (© Deltamarin Ltd)

Marking another order for Deltamarin’s B.Delta37, the first Chinese shipowner COSCO has ordered four 40,000 DWT Handymax bulk carriers at Tianjin Xingang shipyard in China. In addition to the latest COSCO order, 16 B.Delta37 vessels had previously been ordered at the Tianjin Xingang


Wärtsilä to Divest its Shares in Two-stroke JV

Wärtsilä to divest its shares in QMD two-stroke joint venture Wärtsilä announced that it will divest its shares in the Qingdao Qiyao Wärtsilä MHI Linshan Marine Diesel Co. Ltd. (QMD), the joint venture company established for manufacturing large low-speed marine


More VDR Orders for Danelec in China

Danelec Marine has received orders to supply Voyage Data Recorders (VDRs) and Electronic Chart Display and Information Systems (ECDIS) for 18 offshore support vessels in China. The orders were taken by Danelec’s distributor Xiamen Huayi for ships under construction at a shipyard in Fujian


China Lists 51 Shipyard 'White List'

COSCO Zhoushan Shipyard: Photo COSCO

China has released its first "white list" of 51 shipyards that it deems worthy of favourable policy support, as the world's largest shipbuilder strives to tackle over-capacity that has slammed the global shipping market. The government said last year that shipbuilders that complied


China Names 9 Shipyards for 'Favorable' Treatment

China has added nine shipyards to its "white list" of firms deemed worth of favourable policy support, as it attempts to tackle overcapacity that has weighed on the global shipping market. In September, it published a list of 51 yards which it later cut to 50


China Adds 9 Shipyards to Favored 'White List'

Photo: China Shipbuilding Industry Corporation

China has added nine shipyards to its "white list" of firms deemed worth of favourable policy support, as it attempts to tackle overcapacity that has weighed on the global shipping market.   In September, it published a list of 51 yards which it later cut to 50


ABB Wins Contract from Chinese Shipyard

LNG illustration courtesy ABB

  ABB announced that it will deliver advanced electrical propulsion systems for four LNG carriers under construction by Hudong-Zhonghua Shipbuilding (Group) Co., Ltd. The LNG vessels are a joint venture between China National Offshore Oil Corporation (CNOOC)


Nigerian Navy Acquires Warship from China

 Nigerian Navy Ship OKPABANA. Picture by Nigerian Navy

 The Nigerian Navy (NN) fleet has received a boost with the arrival of the newly acquired warship, Nigerian Navy Ship (NNS) Centenary F91, stealth Offshore Patrol Vessel (OPV).  The first of two P-18N Offshore Patrol Vessels (OPV) ordered by Nigeria was delivered in November 2014 at the


MAN, CSIC Extend Two-stroke Agreement

The group photo from the CSIC signing ceremony in Beijing (Photo courtesy of MAN Diesel & Turbo)

MAN Diesel & Turbo renewed its contract with Chinese two-stroke licensee, China Shipbuilding Industry Corp. (CSIC).   Signed at a ceremony in Beijing on February 3, 2015, the agreement runs for the next 10 years and covers the production of low-speed engines at CSIC affiliates: Dalian






 
rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright