Demand for Ships in China to reach 31m DWT
According a new report on China’s shipbuilding industry from Research and Markets, from 2006 to 2010, the total demand for ships in China will reach 31 million dead weight tons (DWT), and the annual demand will be 6.2 million DWT on average. The report, dubbed China Shipbuilding Industry Report, 2005–2006, notes that China’s ship completions rank third over the past 10 consecutive years, and the shipbuilding capacity has increased from 3.462 million DWT in 2002 to 12 million DWT in 2005. The boom of China’s shipbuilding industry is closely linked with the development of marine industry, says the report. Although the global marine market declined in 2005, new opportunities emerged.
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.
China Shipbuilding Industry Corp. to Raise Cash
China Shipbuilding Industry (CSIC) plans to issue RMB 1-billion in sale of unsecured medium term notes According to a 'China Knowledge' report, China Shipbuilding Industry Corp or CSIC, the parent of China Shipbuilding Industry Co Ltd<601989 >, has said that it plans to issue RMB 1 billion worth of unsecured medium-term notes with a maturity of five years on the interbank market on Jun. 28. Proceeds from the offering will be used to replenish the company’s working capital.
China Shipbuilding Wave Continues to Rise
According to Asia Times, China's shipbuilding industry could be overextended in three years amid a booming global demand for new vessels. China's shipbuilding capacity will exceed 40 million deadweight tons (DWT) a year in 2010 if new shipyards planned by investors are completed, according to data from China Association of National Shipbuilding Industry. Ship production in China, the world's No 3 shipbuilding country after Japan and South Korea, climbed by 20% to 14.52 million. DWT last year from 2005, grabbing 19% of the world's total. Vessels for export amounted to 11.71 million DWT and the whole sector's profits more than doubled to 9.6 billion yuan (US$1.26 billion) in 2005.
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. The planned sale will release the company from policies and regulations that have constrained state-run companies, China Shipbuilding said in the prospectus to investors. Reducing state ownership to less than 50 per cent frees companies from having lawmakers review their budgets and from the Government’s management control.
China Shipbuilding Industry's Woes Uncovered in New Research Report
The shipping market is continuously in depression, and the development of China's shipbuilding industry faces huge challenges, says a new report – 'China's Shipbuilding Industry 2013-17' published by Research & Markets. In a newly-issued market research report, 'Report & Markets' finds that from January to September in 2012, the completion volume of China's shipbuilding was 41.58 million deadweight tons, with a decline of 18.5% YOY. The volume of new ship orders was 15.41 million deadweight tons, with a decline of 46.9% YOY.
Major China Shipbuilder Seeks Military Orders
Chinese shipbuilding giant, China Shipbuilding Industry Corp (CSIC) makes debut at Malaysia defense show. The China Shipbuilding Industry Corporation (CSIC) recently made its debut in the Langkawi International Maritime and Aerospace Exhibition in Malaysia, reports Xinhua. The company brought its latest product models, including a submarine, landing platform dock and frigate, to the four-day show. Xu Ziqiu, general manager of China Shipbuilding and Offshore International, the international marketing and sales arm of CSIC Xu admitted the shipbuilding industry was not yet fully recovered from the global financial crisis, and hence his company was interested in tapping the global market. Source: Xinhua
China Shipbuilder Ponders Overseas Yard Acquisition
China Shipbuilding Industry Corp (CSIC) says it has had advanced talks with a European shipbuilder so far. Despite the travails of the lack of orders at home one of China’s shipbuilding majors is looking at taking advantage of the downturn by acquiring some overseas yards to boost its technology expertise, reports Sinoship News. China Shipbuilding Industry Corp (CSIC), the state-run entity that controls many northern Chinese yards, said recently that it had held advanced talks with one European shipbuilder so far. "The talks did not bear any fruit but they did help us gain experience in negotiating with European companies," a senior executive, Sun Bo said recently. "We will continue pursuing the idea (of mergers and acquisitions of European shipbuilding companies)," he added.
China's Shipbuilding Industry Sees Rapid Growth
China's shipbuilding industry continues to grow rapidly with shipbuilders getting new orders totaling 16.08 million deadweight tons in the first half of the year, a 113-percent rise over the same period last year, the National Development and Reform Commission (NDRC). The NDRC said shipbuilders hold total orders of 50.92 million deadweight tons in the first half of the year with an increase of 43 percent, accounting for 20 percent of the world's market share. The national Medium-and Long-Term Plan of the Shipbuilding Industry, which was approved in August by the State Council, the country's cabinet, said the industry should accelerate its restructuring and upgrading to become strong enough to drive the growth of related sectors.
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. McDermott Wuchuan expects to focus its business on floating, production, storage, off-loading vessel construction and integration, the company said. The new facility will include structural and pipe shops…
China Shipbuilding to Acquire Stakes In Subsidiaries
According to a report from Capital Vue, China Shipbuilding Industry (601989), a major producer of large marine diesel engines, said it won approval from the State-owned Assets Supervision and Administration Commission to acquire stakes in seven subsidiaries belonging to its parent, China Shipbuilding Industry Corporation (CSIC). Source: Capital Vue
Report: China Shipbuilding Plans 17.5B Yuan Private Placement
China Shipbuilding Industry plans to raise 17.46 billion yuan through a private placement of 2.52 billion shares to seven designated investors at 6.93 yuan per share, accroding to a report on http://www.capitalvue.com, citing reports 163.com. According to the report, the company’s total shares outstanding will increase to 9.17 billion shares after the private placement is completed. The company’s parent, China Shipbuilding Industry Corporation (CSIC), will hold 5.02 billion shares, or a 54.74 percent stake, upon the completion of the private placement. (Source: http://www.capitalvue.com)
Growth Forecasted for the China Shipbuilding & Repairing Industry
According to BusinessWire.com, China's shipbuilding industry kept a fast growth in the first three quarters of 2007, and a variety of indicators refreshed the record. The accomplished output of shipbuilding industry amounted to 12.03 million DWT, a rise of 44 percent over the same period last year. Of all, the exported shipping hit 9.77 million DWT, taking 81 percent of accomplished shipbuilding output. In addition, new shipbuilding orders reached 64.34 million DWT, up 120 percent from a year earlier. Of all, the exported shipping arrived at 57.22 DWT, a share of 89 percent in the new shipbuilding orders. The handheld shipbuilding orders were up to 129.35 million DWT, up by 111 percent year-on-year.
China Shipbuilding Sees Higher Profits
The state-run China Shipbuilding Corp announced its goal this year of increasing annual operating income to $744m and the total tonnage of ships built from 120,000 to 180,000. The company also said it should be able to fulfill the government requirement of making a pretax surplus. Source: CNA
China Shipbuilding: Good Business Speeds Privatization
The China Shipbuilding Corp said in a report that the company currently has orders totaling more than $2.68 billion, according to a report on TaipeiTimes.com The written report was presented by the CSBC to the Science and Technology Committee of the Legislative Yuan which is set to review the CSBC's budget for next year. The CSBC said that it currently has orders for building 51 commercial ships as well as orders for building 30 military vessels. (Source: TaipeiTimes.com)
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.
LNG Ship Sails off Shipyard
According to Xinhua, China's first liquefied natural gas(LNG) ship sailed off shipyard Wednesday in Shanghai, marking China's shipbuilding industry stepping into a new era. 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, which fills a blank in China's shipbuilding history. The LNG ship is regarded a high-tech product with high-added value in the shipbuilding industry, which can only be built in Japan, the Republic of Korea and several European countries. To share a cake of the global market, China input more than 100million yuan on the research of the LNG ship in the past years andmake effective its first contract for LNG vessels in August, 2004.
China Shipbuilding, Mitsubishi, Wartsila Joint Venture Cleared by EU
The European Commission said it has cleared a proposed marine engine manufacturing joint venture between China Shipbuilding Industry Corporation, Japan's Mitsubishi Heavy Industries and Wartsila Oyj, estimated to be worth around $101m. The new company will be named Quingdao Qiyao Wartsila MHI Linshan Marine Diesel Company. Production is set to start during the fourth quarter of 2008. The deal was examined under the EU's 'simplified' merger review procedure, for cases which the commission believes do not pose competition concerns. China Shipbuilding produces ships and is active in marine equipment engineering, designing and manufacturing. Source: AFX
China Shipbuilding Activity Tumbles
China's shipbuilders finished 22.53 million dead weight tons of shipbuilding orders in the first five months this year, a decrease of 10.1 percent year-on-year. New ship orders amount to 9.54 million DWT, a fall of 47.3 percent year-on-year. The total industrial output value of China's shipbuilding industry reached 240.6 billion yuan ($38.2 billion) in the first five months of 2012, but the growth rate was only 0.7 percent year-on-year, the China Association of the National Shipbuilding Industry informs 'China Daily'. The traditional shipbuilding industry is being hit hardest, according to the association. The ship equipment industry has seen growth of 27.1 percent. The marine engineering equipment manufacturing industry grew by 11.4 percent.
China Ranked 3rd with 12 Million DWT in 2005
China’s shipbuilding capacities have reached 12 million dead weight tonnages (DWT) in 2005, up 36 percent year-on-year, to be ranked third largest worldwide, according to the Commission of Science Technology and Industry for National Defense, as reported by www.chinaknowledge.com. The commission said China received record high shipbuilding orders of 15 million DWT last year. The sales revenue of all the country’s shipbuilding companies reached a total of about $12 billion with an industry profit of more than $371.6 million and a ship export value of more than $4 billion. China State Shipbuilding Corporation and China Shipbuilding Industry Corp., one of the country’s biggest conglomerates in the industry, built 5 million and 3 million DWT of ships respectively in 2005.
China Sees Record Ships Output
The output of China's shipbuilding industry reached a record 14.52 million dwt in 2006, making up close to one-fifth of the global total for the same year, according to official statistics. The Commission of Science, Technology and Industry for National Defense (CSTIND) announced on Tuesday that the output of 2006 was 20 percent higher than that of the previous year. According to the CSTIND, China's top two shipbuilding giants, the China State Shipbuilding Corporation (CSSC) and the China Shipbuilding Industry Corporation (CSIC), reported annual output of 6.02 million dwt and 2.67 million dwt respectively. The rest of the market was covered by local shipbuilding companies.
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, the state-owned conglomerate that engages in manufacturing and scientific research in a number of maritime industries. Sansha is China's youngest city, set up in July on Yongxing Island in the South China Sea to administer the Xisha, Zhongsha and Nansha islands and their surrounding waters.
China Finances $370M Shipbuilding Deal With Iran
The Export-Import Bank of China has agreed to lend $370 million to two state-owned conglomerates contracted to build five oil ships for Iran. The deal marks the largest loan yet by the Eximbank, which was founded in 1994 to help finance Chinese machinery exports. The loans to China Shipbuilding Industry Corp. and China Shipbuilding Trading Co. Ltd. reportedly carry export credit insurance worth $500 million. The contracts with Iran are China's first to build and export oil ships of the 300,000-tonnage size, marking a breakthrough for the domestic shipbuilding industry.