CSSC to Sell Shipyard for $443m

Tuesday, July 01, 2008

China State Shipbuilding Corp (CSSC), has put its Wenchong Shipyard up for sale on the Beijing Equity Exchange for $443m, Reuters reported.
The official China Securities Journal quoted analysts as saying that Guangzhou Shipyard International Co,
CSSC stipulated that the buyer must be in the shipbuilding business, have earned more than 300 million yuan in net profit each year from 2005 to 2007, and have built ships with a total of at least 500,000 dead weight tonnes in fiscal year 2007, the exchange said.
The buyer would also have to be state-owned or state-controlled, with total assets of no less than 10 billion yuan at the end of 2007, it said.

Source:  Reuters

Maritime Reporter September 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds


Urals Weakens Further in Baltic

Russian Urals crude differentials continued to slide in the Baltic on Thursday amid a flurry of activity with softer refining margins, pushed down by higher oil prices, still keeping buyers at bay.

Seadrill Hopes to See Market Turn in 2017

Offshore rig driller Seadrill is facing another two years in the doldrums but hopes the international rig market could turn around in 2017.   Rig rates have more

Box Shipping Eyes More Overcapacity, Financial Pain

Slowing global trade and a bloated orderbook of large vessel capacity mean that container shipping is set for another three years of overcapacity and financial pain,

Maritime Security Maritime Standards Navigation Offshore Oil Pipelines Pod Propulsion Salvage Ship Electronics 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: 0.1325 sec (8 req/sec)