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 worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

Related Posts