China Merchants restructures shipyard assets

China Merchants restructures shipyard assets

China Merchants Group has started the integration of its shipyard assets as part of the ongoing internal restructuring process following its merger with Sinotrans & CSC.

China Merchants Group has taken over two shipyards, Jinling Shipyard and Jiangdong Shipyard, from Sinotrans & CSC and integrated the two yards into China Merchants Heavy Industry (CMHI).

China Merchants and Sinotrans & CSC completed a strategic merger in April 2017, and so far the two groups have consolidated assets in the shipping and logistics sectors.

Following the deal, Sinotrans & CSC will be left with only two shipyards, Qingshan Shipyard and Yichang Shipyard. Qingshan Shiyard quit shipbuilding operations after delivering its last ship last year while Yichang Shipyard mainly builds barges and tugs through its joint venture with Damen Shipyards.

In August, China Merchants also acquired Zhejiang Eastern Shipyard and integrated the yard into Yiu Lian Dockyard.

CMHI is currently the fourth largest state-run shipbuilding group in China following CSSC, CSIC and Cosco Shipping Heavy Industry.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

Related Posts