The merger of China’s two largest state-owned shipbuilding conglomerates is finally complete and the giant yard conglomerate is moving its headquarters from Beijing to Shanghai.
China State Shipbuilding Corp (CSSC) and China Shipbuilding Industry Corp (CSIC) entered into a merger agreement a couple of years ago, a process that has taken time to get past multiple anti-monopoly reviews around the world. The two yard groups were one group until the start of the century when they were split in two with the Yangtze serving as the dividing line, CSIC operating yards in the north and CSSC controlling yards in the south.
The new headquarters will be at the site of the former Jiangnan Shipyard in Shanghai’s Puxi district.
Across the East China Sea, another big shipbuilding merger between Korean giants Daewoo Shipbuilding & Marine Engineering (DSME) and Hyundai Heavy Industries (HHI) is still facing a number of anti-monopoly reviews.