Guangzhou: The ongoing consolidation among China’s shipbuilders is expected to see further consolidation in Guangzhou next week.
China State Shipbuilding Corporation is likely to inject fresh assets into Guangzhou Shipyard International (GSI). GSI’s shares on the Hong Kong exchange have been suspended since Monday pending an announcement due April 15.
A report from securities firm Shenyin Wanguo this week said Huangpu Wenchong Shipbuilding, which makes both naval and civilian ships, is likely to be injected into the listed firm. GSI has already taken over the running of another giant CSSC yard in Guangzhou, Longxue. [11/04/14]