20,000 TEU Cosco Shipping Gemini Delivered
The 20,000 TEU containership Cosco Shipping Gemini was officially named and delivered. The vessel was built by the Chinese shipyard Dalian Shipbuilding Industry (DSIC) for Chinese owner Cosco Shipping Lines. Chief Financial Officer of Cosco Shipping, Sun Yueyin, attended the naming ceremony. She named the vessel and cut the ribbon. President and Deputy Party Secretary of China Shipbuilding Industry Corporation (CSIC), Sun Bo; Party Secretary of Cosco Shipping Lines, Qian Weizhong…
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 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)
AVEVA Strategic Initiative in China
AVEVA has restructured its Chinese operations into two operational divisions. The move will dedicate AVEVA’s VANTAGE engineering solutions and personnel to the unique requirements associated with each of the industry sectors; delivering solutions, support and consultancy more effectively. The two divisions will be run from AVEVA's Asia Pacific operation and headed by: Ms Liu Xiao Bin, Vice President, for the Guangzhou-based China Process and Power Division; and Ms Zhou Chun, Vice President, for the Shanghai-based China Marine Division. The China Marine Division will be responsible for serving all aspects of marine engineering and construction (including both shipbuilding and offshore facilities)…
China Leads Shipbuilding World-Wide
According to a report from The National, at China Shipbuilding Industry Corporation (CSIC) yard in Tanggu, a coastal town an hour by fast train from Beijing, the BBC Fuji is taking shape, a 390.5-ft multi-purpose heavy-lifter vessel. CSIC is China's biggest shipbuilder and China makes more ships than any other country in the world. In the first six months of last year, the dragon economy delivered vessels totaling 22.7 million deadweight tonnage (DWT), compared with 18.3 million DWT for the second-placed South Korea. (Source: The National)
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.
China, Singapore Partner in Shipbuilding
According to an April 13 report from the People’s Daily Online, the China Shipbuilding Industry Corporation (CSIC) and Singapore's Pacific International Lines (PIL) opened a joint venture - CSIC Pacific. Speaking at the opening of the company, Lim Hwee Hua, Singapore 's Minister in Prime Minister Office and Second Minister for Finance and Transport, said that this CSIC-PIL's partnership is reflective of the close links between China and Singapore. (People’s Daily Online)
CSSC Nanjing Luzhou, MacGregor Start Joint Venture
MacGregor, part of Cargotec, and China State Shipbuilding Corporation's (CSSC) Nanjing Luzhou Machine Co., Ltd. (LMC) celebrated the opening of a new joint venture in Nanjing, China on April 10. With common efforts from both parties, the joint venture will be gradually developed to be the center of excellence for air compressors. The cooperation will be expanded step by step to cover other suitable products in the future.The joint venture's business model and organizational structure were developed during 2017…
China Adds 9 Shipyards to Favored 'White List'
China has added nine shipyards to its "white list" of firms deemed worth of favourable policy support, as it attempts to tackle overcapacity that has weighed on the global shipping market. In September, it published a list of 51 yards which it later cut to 50. These yards, which it says are judged to comply with requirements such as ship emissions, are expected to get favourable policy support, such as bank credit and export tax rebates. The nine include subsidiaries of state-backed firms China State Shipbuilding Corporation…
China Names 9 Shipyards for 'Favorable' Treatment
China has added nine shipyards to its "white list" of firms deemed worth of favourable policy support, as it attempts to tackle overcapacity that has weighed on the global shipping market. In September, it published a list of 51 yards which it later cut to 50. These yards, which it says are judged to comply with requirements such as ship emissions, are expected to get favourable policy support, such as bank credit and export tax rebates. The nine include subsidiaries of state-backed firms China State Shipbuilding Corporation, China Shipbuilding Industry Corporation, China Ocean Shipping (Group) Company and Aviation Industry Corporation of China , according to the list put up on the Ministry of Industry and Information Technology's website on Wednesday.
European Commission Clears JV
The European Commission's competition authorities have cleared the joint venture being formed by Wärtsilä, China Shipbuilding Industry Corporation (CSIC) and Mitsubishi Heavy Industries (MHI). The joint venture will manufacture large low-speed marine engines in China. CSIC's ownership in the the joint venture will be 50%, Wärtsilä's 27% and MHI's 23%. The production is expected to start in the fourth quarter of 2008.
Construction work starts on Wärtsilä's China Project
The ground breaking ceremony which officially starts the construction work took place in China on the generating set factory jointly owned by Wärtsilä and Shanghai Marine Diesel Engine Research Institute, an underlying company of China Shipbuilding Industry Corporation (CSIC). The factory, which got the name Wärtsilä Qiyao Diesel Company Ltd. (Shanghai) will be located in the Shanghai area and will initially manufacture Wärtsilä Auxpac W20 diesel generating sets, which will be sold through Wärtsilä's global sales network. Production will start up in early summer 2006. "Our goal is to boost Wärtsilä's share of the ship genset market. The focus for shipbuilding is firmly in Asia and shipbuilding in China is expanding at an extremely fast rate.
Wärtsilä Expands in China
Wärtsilä has signed a letter of intent with China Shipbuilding Industry Corporation (CSIC) to set up a 50/50 joint venture to manufacture marine auxiliary engines in China. The location of the new factory will be in the Shanghai area. The intention is to start the production of the defined Auxpac W20 generating sets for the growing shipbuilding market in China and to sell these through Wärtsilä global network. Auxiliary engines are used for producing electricity in ships. The parties aim to finalize the negotiations during the first half of 2005. China Shipbuilding Industry Corporation (CSIC) is one of the largest groups in China in the field of design, manufacture and trade of military and merchant ships, marine engineering and marine equipment.
China Ocean Orders Four VLCC's
COSCO Group has ordered 4 Very Large Crude Carriers (VLCC) from China Shipbuilding Industry Corporation (CSIC). The ceremony was attended by Chairman Ma Zehua, President Li Yunpeng, Chief Financial Officer Sun Yueying, and Executive Vice President Ye Weilong of COSCO Group, as well as President Li Changyin, Executive Vice President Dong Qiang and Executive Vice President Sun Bo from CSIC. COSCO inform that managers and executives from relevant departments and subsidiaries of the two companies also attended the ceremony.
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
CSIC Forms Joint Venture with Wartsila
Wartsila Qiyao Diesel Co Ltd (Shanghai), a joint-venture between Finland-based Wartsila and the China Shipbuilding Industry Corporation (CSIC), was inaugurated on June 29. With paid-up capital of 250 million yuan, the company is located in Shanghai's Lingang Industrial Park, Nanhui District, and will mainly manufacture Wartsila's Auxpac generating sets. Source: Shanghai Daily News
Chinese Shipyard DSIC Acquires FORAN
The SENER engineering and technology Group has signed a contract with the Chinese shipyard Dalian Shipbuilding Industry Co. Ltd. (DSIC) for the implementation of the shipbuilding CAD/CAM System FORAN, developed by SENER. DSIC is operated under the China Shipbuilding Industry Corporation (CSIC), which is a public company that has been listed on the stock market. The license contract has been signed between SENER, DSIC and SENER´s partner in China, United Force Corporation. The scope of the contract includes the installation of permanent licenses of the FORAN System in different disciplines including hull forms and naval architecture, hull structure, machinery and outfitting, electrical design and drafting.
Subsea Crane Ordered from China for New AHTS
MacGregor has secured an order from Wuchang Shipbuilding Industry for a 100-metric-ton SWL active heave-compensated subsea crane. The MacGregor crane will be installed on the anchor handling tug supply (AHTS) vessel, currently under construction for the offshore specialist, China Oilfield Services Limited (COSL). Wuchang Shipbuilding Industry, a subsidiary of one of China's largest shipbuilders, China Shipbuilding Industry Corporation (CSIC), plans to deliver the Rolls-Royce UT788-design vessel in March 2015. Once operational, the vessel will perform offshore services in the South China Sea. It will also have the capability to carry out deepwater and ultra-deepwater work in other offshore areas such as Brazil, West Africa, the Gulf of Mexico and the North Sea.
CSSC to Restructure
The primary contractor for China's naval force China State Shipbuilding Corp (CSSC) is preparing a major asset reorganization involving its two subsidiaries, reported China Daily. The companies have halted stock trading on the Shanghai Stock Exchange The announcement said that whether the reforms take place would be decided in the next 10 trading days. CSSC Holdings Ltd and CSSC Offshore and Marine Engineering Co Ltd both acted upon the notices from their parent company about the potential asset reform by suspending their stock trading. The CSSC group is the parent of three listed companies.
New Dalian Shipbuilder Unveiled
Xinhua news has reported that a shipbuilder was unveiled in Dalian as part of the the city's shipbuilding industry. Dalian Shipbuilding Industry Co was formed by the merger of Dalian Shipyard Co and Dalian New Shipbuilding Heavy Industry Co. Dalian Shipyard, with more than a 100-year history, used to be one of China's big military shipbuilders. Dalian New Shipbuilding, established 15 years ago, was one of the country's biggest shipbuilders. Both the companies were subsidiaries of China Shipbuilding Industry Corporation. The new shipyard expects to output vessels of 2 million tons next year and more than 2.6 million tons in 2007, according to Xinhua.
New Chinese Shipbuilder Unveiled
A new, bigger shipbuilder was unveiled in Dalian recently, as part of the restructuring of the city's shipbuilding industry, ShanghaiDaily.com reported. Dalian Shipbuilding Industry Co was formed by the merger of Dalian Shipyard Co and Dalian New Shipbuilding Heavy Industry Co. Dalian Shipyard, with more than a 100-year history, used to be one of China's big military shipbuilders. Dalian New Shipbuilding, established 15 years ago, was one of the country's biggest shipbuilders. Both the companies were subsidiaries of China Shipbuilding Industry Corporation. The new shipyard expects to output vessels of 2 million tons next year and more than 2.6 million tons in 2007, according to Xinhua. (Source: ShanghaiDaily.com)
Chinese Engine Builder Celebrates Milestone
Qingdao Qiyao Wartsila MHI Linshan Marine Diesel Co. (QMD) in Qingdao, China, marks its rapid growth as an engine builder with production of one million horsepower of two-stroke marine engines. (One million refers to the accumulated power output in brake horsepower of the engines produced by QMD since the start of its operations in January 2009). The milestone was reached with the completion of a seven-cylinder Wärtsilä RT-flex82T engine, the second in a series of six, designed for the propulsion of large commercial cargo ships, tankers, bulk carriers and containerships. For customers, the benefits of the Wärtsilä RT-flex82T engine include high efficiency with low fuel costs, llow emissions and flexible engine operational modes.