Baosteel Invests in China's Shipbuilding Industry

Tuesday, March 20, 2007
The Shanghai Baosteel Group Corp., China's largest steel producer, is to cooperate with the China State Shipbuilding Corporation (CSSC) to construct the country's largest shipbuilding base. According to an agreement signed last Friday, the Baosteel and CSSC will jointly invest 10 billion yuan (1.25 billion U.S. dollars) to build the No. 1 and No. 2 production lines at the Jiangnan Changxing Shipbuilding Base, located at the estuary of the Yangtze River. Baosteel will take a 35-percent stake and CSSC a 65-percent stake in the two production lines, which are designed to manufacture ships with 4.5 million dead weight tons (dwt) annually. Construction of the lines had begun and the project had attracted orders for ships with combined capacity of more than seven million dwt, sources with the project was quoted as saying by China Securities Journal. CSSC, parent company of 60 subsidiaries covering ship building, ship repair, research and development and offshore engineering, posted a profit of more than five billion yuan last year, more than 60 times that of 1999 when it was established. Source: Xinhua
Maritime Reporter August 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

Willard to Supply Patrol Boats for the Philippines

The U.S. Department of State awarded a contract to boatbuilder Willard Marine, Inc., to provide the Philippine National Police Maritime Group with patrol vessels

Comprehensive Winch Outfitting for New Trawlers

Fishing company HB Grandi of Iceland recently awarded Naust Marine a contract for complete winch outfitting of three new 180 ft. fishing trawlers.   The contract,

CMA CGM Launches 18,000 TEU Containership

Container shipping firm CMA CGM Group has taken delivery of its newest colossal containership, the 18,000 TEU, 400-meter-long CMA CGM Bougainville.   Now the

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Navigation Pipelines Pod Propulsion Ship Repair Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.4923 sec (2 req/sec)