In China, Jiemian News reports China State Shipbuilding Corporation has cleared regulatory approval to absorb China Shipbuilding Industry Company in a 115.2 billion yuan share-swap merger, the largest of its kind in the history of China’s A-share market. Once finalized, the move will consolidate the country’s two largest shipbuilders into a single listed entity under the CSSC name.
The Shanghai Stock Exchange approved the deal on July 4. CSIC will delist, with its shareholders receiving newly issued CSSC shares based on a fixed exchange ratio. The combined firm will inherit all of CSIC’s assets, contracts and liabilities, formalizing a union that has been taking shape since the state orchestrated their parent-level merger in 2019.
Together, CSSC and CSIC accounted for nearly 17 percent of all global ship orders last year, including nearly 29 million deadweight tons in newbuilds. That scale is now matched by formal structure.
The merger is intended to eliminate internal competition, accelerate the adoption of high-end marine technologies, and align more closely with Beijing’s ambitions to expand naval and commercial maritime strength. The group also plans to inject assets from Hudong-Zhonghua, a major builder of LNG carriers and warships, into the listed entity within three years, signaling a longer horizon of consolidation still underway.
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Category: Sustainable Marine Fuels
