On February 18, 2025, China State Shipbuilding Corporation (CSSC) and China Shipbuilding Heavy Industry Company (CSIC) held special shareholder meetings, where key proposals regarding their landmark merger were overwhelmingly approved. With over 90% approval from shareholders, this marks a crucial step in the integration of these two giant enterprises, further solidifying China’s position in the global shipbuilding industry.
High Shareholder Approval: The merger proposal saw strong support, with both companies meeting a participation threshold of over 51% and nearly 90% approval of the proposed plans.
Enhanced Competitive Edge: Once completed, the merger will create a more powerful synergy, improving market competitiveness and collaboration across China’s entire shipbuilding value chain. The combined entity will be better positioned to meet the growing global demand for eco-friendly, high-performance vessels.
AI and Smart Manufacturing Integration: The new corporation will push forward the digitalization of the shipbuilding process. Through joint ventures like the “Shipbuilding + AI” lab with Fudan University, the industry will embrace the next wave of innovation to enhance design, manufacturing, and testing with cutting-edge technology.
Order Backlog: With a total of over 500 ships on order and production slots booked through 2029, the new CSSC-CSIC group is well-equipped to meet global maritime demands, while the ongoing transition to greener, more energy-efficient vessels ensures long-term growth in line with sustainability goals.
The merger will integrate key shipyards such as Jiangnan Shipbuilding (group) Co., Ltd., Dalian Shipbuilding Heavy Industry Co., Ltd., and others into a unified entity, optimizing production and eliminating internal competition.
The new corporation aims to lead in high-end, green, and intelligent ship manufacturing, setting a new global standard.
This merger paves the way for the creation of a world-class, globally competitive shipbuilding giant. With projected revenues exceeding 120 billion RMB and assets near 400 billion RMB, the future looks promising for China’s shipbuilding sector!
by Xinde Marine News Chen Yang
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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