China's Largest Shipbuilders Plan to Merge

Maritime Activity Reports, Inc.

July 1, 2019

© Roland Bentin / Adobe Stock

© Roland Bentin / Adobe Stock

China's two largest shipbuilders are planning to merge, their listed arms said in separate exchange filings on Monday, the latest to join a wave of mergers among state-owned enterprises as the government overhauls the sector.

The move by China Shipbuilding Industry Corp (CSIC) and China State Shipbuilding Corp Ltd (CSSC), is subject to approvals from related authorities and there are still many details to be ironed out before the proposal can be finalized, the filings showed.

A slew of units belonging to the two companies, such as CSSC Offshore & Marine Engineering Group Co Ltd, China Marine Information Electronics Co Ltd and Hubei Jiuzhiyang Infrared System Co Ltd issued similar statements confirming their parent companies' plan of consolidation.

The two companies have multiple shipyards across China whose products range from aircraft carriers to commercial ships which carry oil and gas


(Reporting by Meg Shen and Min Zhang; editing by Emelia Sithole-Matarise)

Maritime Reporter Magazine Cover Nov 2019 - Workboat Edition

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the maritime industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News