Chinese shipbuilding giants swap management, continue to deny merger plans

Chinese shipbuilding giants swap management, continue to deny merger plans

Beijing: State-owned shipbuilding conglomerates, China State Shipbuilding Corporation (CSSC) and China Shipbuilding Industry Corporation (CSIC), have swapped top management, just two weeks after reports emerged of a potential merger between the two groups.

Former CSSC president Hu Wenming, has moved to CSIC as the new president, while former vice general manager of CSIC, Dong Qiang, has become the new president of CSSC. Li Changyin, former president of CSIC, is retiring and has quit the management role.

When contacted by Splash, a spokesperson for CSIC denied that the management swap is part of a potential merger plan.

“CSIC and CSSC have already been having close cooperation for years, it won’t have substantial changes if the two groups merge together, but it definitely will have a positive influence on the two group’s future development, “an official at CSSC-affiliated Waigaoqiao Shipbuilding told Splash.

Swapping top management between state-owned enterprises is common in China – the nation’s top two lines, Cosco and China Shipping, did exactly that four years ago.

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.

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