The merger between China State Shipbuilding Corporation (CSSC) and China Shipbuilding Industry Corporation (CSIC), underway since 2019, has been completed following a share-swap deal.The result is the world’s largest shipbuilding group with
The merger between China State Shipbuilding Corporation (CSSC) and China Shipbuilding Industry Corporation (CSIC), underway since 2019, has been completed following a share-swap deal.
The result is the world’s largest shipbuilding group with an orderbook of more than 530 vessels, about 17% of the global market and including commercial, defense and offshore engineering.
Local media reports indicate the group will be positioned to take a stronger lead in high-value and green shipbuilding, such as LNG carriers and ammonia-fueled vessels, and it also reinforces China’s ambition to move from a shipbuilding nation to a shipbuilding powerhouse.
CSSC's operating costs are expected to fall by 8-10%.
In the first half, China's shipbuilding deliveries, new orders and order backlog accounted for 51.7%, 68.3% and 64.9% of the global market share.
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