Bulk Carriers

Bulk Carriers – Recent developments in Chinese Shipbuilding

China State Shipbuilding Corporation’s listed units CSSC Holdings and CSSC Offshore & Marine plan to bring in major investors to inject about 10.2 billion yuan ($1.6 billion) of capital into four Chinese shipyards. The planned capital increases are part of the government’s wider “supply-side structural reform policy”. According to an announcement, China CSSC Holdings Ltd is bringing in investors, such as China Life, CPIC Property and PICC, to invest 5.4 billion yuan in Shanghai Waigaoqiao and Chengxi Shipyard. In a separate statement, CSSC Offshore & Marine Engineering Group Co Ltd said the same group of investors planned to increase the capital of Guangzhou Shipyard International and Huangpu Wenchong by a combined 4.8 billion yuan.