Chinese Shipbuilding Majors Win Approval for Merger

ShipbuildingImage by WMN

China has given the green light to a merger of the country’s two shipbuilding majors, the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) said on October 25.

After receiving an approval from the state asset regulator, China Shipbuilding Industry Corp (CSIC) and China State Shipbuilding Corp (CSSC) are now a step closer to combine their respective businesses.

CSIC and CSSC, the largest state-owned shipbuilders by production capacity in China, unveiled plans for the potential merger in July this year.

The integration is seen as an attempt to better compete against South Korean, Japanese and European rivals, enabling the Chinese shipbuilders to gain a much larger market share in the future.

The duo operates multiple shipyards across China that specialize in the construction of various vessel types, from naval to commercial ships.

World Maritime News Staff

Share this article

Follow World Maritime News

In Depth>

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 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 3 4 5

Offshore Energy Exhibition and Conference (OEEC) 2020

The three-day event includes an exhibition where an expected 600+ supply chain companies…

read more >

Maritime Reconnaissance and Surveillance Technology

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

read more >

2nd GREENTECH IN SHIPPING GLOBAL FORUM

Forum you will find out from the regulators, government bodies and major ports’ representatives what the near…

read more >

7th Annual Arctic Exchange

Every year the Exchange invites delegates from across the globe to come together to listen to key senior management teams…

read more >