China State Shipbuilding Corporation CSSC has received approval from the Shanghai Stock Exchange for its merger with China Shipbuilding Industry Company (CSIC). After completing the remaining formalities, the deal will create the world’s largest shipbuilding group in terms of assets, revenue and order book.
According to Alphaliner estimates, the combined group’s total assets will reach 400 billion yuan (about $56 billion), with annual revenue of about 130 billion yuan. The merger will be a key step in the consolidation of the Chinese shipbuilding industry, aimed at reducing domestic competition and strengthening China’s position in the global market.
The merger of CSSC and CSIC effectively completes a multi-year process of restructuring the sector, opening the way for increased technological cooperation and strengthening the export potential of Chinese shipyards.