China Shipbuilding Industry Corp, one of the country’s two major state-run shipbuilding conglomerates, will integrate six of its shipyards into three, the China Daily reports.
CSIC’s three major subsidiaries are Dalian Shipbuilding Industry Co, Bohai Shipbuilding Heavy Industry Co and Qingdao Wuchuan Heavy Industry Co will take over the running of shipbuilding Industry Co, Tianjin Xingang Shipbuilding Heavy Industry Co and Qingdao Beihai Shipbuilding Heavy Industry Co respectively.
“Many shipyards in China have excess capacity in conventional shipbuilding, but not in building complex and high value-added ships,” said Sun Bo, CSIC’s president, while outlining plans for his yards to focus on more high spec vessels.
