Greater China

CSSC Shipping to place orders worth RMB7b

Shanghai: China State Shipbuilding Corporation, one of the two state-owned shipbuilding giants in China, has announced that it plans to sign an agreement with CSSC Shipping (Hong Kong), the ship leasing arm of the company, to cooperate on a series of shipbuilding contracts.

Under the agreement, CSSC Shipping plans to place shipbuilding orders worth RMB7b at CSSC in 2014. The orders will include bulkers, containerships, tankers, offshore platforms and offshore support vessels.

CSSC said the cooperation with CSSC Shipping will support the company’s sustainable development in shipbuilding and high-end offshore equipment amid the revival in both shipbuilding and shipping markets, and the agreement will also help to guide shipbuilding prices in China. [21/04/14]

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