A New Shipbuilding Giant is Born: China State Shipbuilding Corporation Moves Closer to Completion of Historic Merger

On August 4, two major Chinese listed shipbuilding companies—China CSSC Holdings Limited (China State Shipbuilding, 600150) and China Shipbuilding Industry Company Limited (CSIC, 601989)—announced the final steps in a landmark merger that will create the world’s largest publicly traded shipbuilding enterprise.

The Deal at a Glance
China CSSC will absorb CSIC through a stock-for-stock merger.
Approved by the China Securities Regulatory Commission and the Shanghai Stock Exchange.
CSIC will be delisted, with August 12 marking its final trading day.
Trading suspension for both companies begins August 13.
Post-merger, China CSSC will inherit all of CSIC’s assets, liabilities, and operations.

A Global Shipbuilding Powerhouse
Combined total assets: over RMB 400 billion (~$55 billion)
Annual revenue: exceeding RMB 130 billion (~$18 billion)
In 2024, the two firms jointly secured 257 vessel orders totaling 28.6 million DWT, representing nearly 17% of global newbuilding orders (Clarksons data).

Shipyard integration includes top-tier facilities like Jiangnan Shipyard, Waigaoqiao Shipbuilding, Dalian Shipbuilding, Beihai Shipbuilding, and others.

Strategic Synergy
This merger resolves long-standing internal competition since the 2019 consolidation of the “South” and “North” shipbuilding groups under the China State Shipbuilding Corporation (CSSC Group). It unifies a wide range of commercial and defense shipbuilding operations under a single listed entity, covering:Naval vessels、LNG carriers、Large containerships、Bulkers、Offshore engineering equipment.

Looking Ahead
CSSC Group also pledged to further streamline its structure, including the potential future listing of assets from Hudong-Zhonghua Shipbuilding, a global LNG carrier leader, within three years.

by Xinde Marine News Chen Yang

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