Hudong Heavy Machinery Beefs up Before Debut

Tuesday, January 30, 2007
Chinese ship engine maker Hudong Heavy Machinery says it will issue new shares to buy shipbuilding assets that analysts say will pave the way for a listing of its state parent, according to Reuters. Hudong's parent, China State Shipbuilding Corp was expected to list Hudong in Hong Kong after completing the deal to gain wider access to the domestic and overseas capital market, analysts said. CSSC, which builds naval and civilian ships, is the world's No3 builder of ocean-going vessels by capacity, behind Hyundai Heavy Industries and Japan's Imabari Shipbuilding, according to shipbrokers Clarkson. The Chinese state-run firm aims to become the world's No1 shipbuilding group in 2015 by building two shipbuilding bases - one in Shanghai and another in Guangzhou - to boost capacity, according to its Web site. China has been pushing major state firms to list all their assets on the stock market in a bid to curb the power of unlisted parent firms over private shareholders, and boost the global competitiveness of its state sector. Source: Reuters
Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

ClassNK's Noboru Ueda Attends KOTC Delivery Ceremony

Mr. Noboru Ueda, Chairman and President of ClassNK attended the delivery ceremony for the M/T Al Yarmouk, constructed at Daewoo Shipbuilding & Marine Engineering Co.

RIMPAC Exercise Puts LCS Through Paces

It was the middle of May, and the littoral combat ship Independence was operating out of San Diego, testing components of the mine warfare mission package. The mission is one that,

New Superyacht ROCKIT.IT Launched by Feadship

Feadship says it has launched the outstanding 60.35-metre motoryacht ROCK.IT. Created for an experienced owner who has chartered Feadships and appreciated the essence of the brand,

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Offshore Oil Pod Propulsion Port Authority Ship Repair Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1015 sec (10 req/sec)