Report: Cosco, China Shipping to Merge Shipbuilding Yards

Two of China’s major shipping companies could merge 11 shipbuilding yards into a single entity, The Wall Street Journal cited sources close to the matter.

Namely, China Ocean Shipping Co. (Cosco) and China Shipping Group Co. would reportedly reveal their plans of the merger by early next year.

China Ocean Shipping owns six yards and operates two joint-venture yards with Japanese Kawasaki Heavy Industries, while its compatriot China Shipping Group owns five.

If the companies go through with the alleged merger, they would create China’s third biggest shipbuilding group.

The move would follow the companies’ earlier cooperation when they combined their fleets and port operations to form China Cosco Holdings.

Created last year, the company is said to be the world’s fourth biggest container operator in terms of capacity.

Clarkson Research earlier said that, following a rapid increase in number of active Chinese yards from 2005 to 2009, the number of active Chinese yards declined by 63%.

At the start of September 2016, there were just 140 active Chinese yards or around 35% of all active yards globally.

World Maritime News Staff

Share this article

Follow World Maritime News

In Depth>

Events>

<< May 2019 >>
MTWTFSS
29 30 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2

GreenTech in Shipping USA Forum 2019

GreenTech in Shipping USA Forum is an event for Maritime leaders who want to unlock successful business formula of the industry!

read more >

CWC World Gas & Power Series – Brazil & the Americas Summit

CWC World Gas & Power Series: Brazil & the Americas Summit is the perfect meeting place to make contacts…

read more >

FPSO Brazil Congress 2019

Charging ahead with 24 planned orders by 2022, Brazil has once again solidified its status as one of the world’s foremost oil and gas leaders…

read more >

Nor-Shipping 2019

Nor-Shipping’s conference and event programme is tailored to deliver the knowledge, value and networking to help you build your business.

read more >