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>

<< Nov 2019 >>
MTWTFSS
28 29 30 31 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 1

Maritime Reconnaissance and Surveillance Technology

As varied threats in the Mediterranean Sea continue to proliferate, the need to advance…

read more >

CrewConnect Global 2019

CrewConnect Global is the leading forum for collaboration to advance new industry approaches to seafarer recruitment and training.

read more >

CruiseConnect Global 2019

Attend CrewConnect Global and stay on for the CruiseConnect Summit to take part in an industry-wide conversation focused…

read more >

CWC World LNG Summit & Awards Evening

The CWC World LNG Summit & Awards Evening will be returning to Rome in 2019 to celebrate it’s 20th year.

read more >