Finance and InsuranceGreater ChinaShipyards

CSSC seals $5.8bn financing deal

State-run China State Shipbuilding Corp (CSSC), which overseas yards in central and southern China, has sealed a major financing deal with a local bank.

Bank of Communications is stumping up RMB40bn ($5.8bn) over a five-year period to help tide the group over a slump in business.

CSSC has seen its orderbook hit hard by the downturn, with the group now pursuing a serious restructuring.

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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