Future World’s Largest Containership Launched in China
China State Shipbuilding Corporation (CSSC) has announced the launch of what is claimed to be the world’s largest capacity containership coming in at 24,116 TEUs. The ship, named MSC Tessa,...
China has approved the long-rumored merger of its two largest shipbuilding conglomerates, China Shipbuilding Industry Corporation (CSIC) and China State Shipbuilding Corporation (CSSC).
Approval by China’s State Council was announced Friday in a statement posted to the China’s State-Owned Assets Supervision and Administration Commission website.
The combined enterprise, named China Shipbuilding Group, will have annual revenues of approximately $141.5 billion, according to Chinese media reports, a figure that would dwarf that of its South Korean rivals and rank the new group as the world’s top shipbuilder.
CSIC was part of CSSC until it was spun off by the Chinese government in 1999. Rumors of their re-joining began circulating in March 2018, but it wasn’t until this summer that the two confirmed the merger plans.
Join the 84,647 members that receive our newsletter.
Have a news tip? Let us know.