SHANGHAI, Oct 15 (Reuters) - China, the world's largest shipbuilder, is looking to build its first luxury cruise vessel, with help from cruise operator Carnival Corp and Italian shipyard Fincantieri SpA, as the country looks to expand domestic tourism. Carnival said on Wednesday it has signed a memorandum of understanding with China State Shipbuilding Corporation (CSSC), … [Read more...]
COSCO Signs Another 10-Ship Newbuild Order
China COSCO's fleet upgrade program continues today with an order for ten more bulk carriers including six of 81,600 dwt and four of 208,000 dwt. The orders were placed at CSSC's Chengxi Shipyard and Waigaoqiao Shipbuilding for a total consideration of US$188.88 million and USD $231.6 million, respectively. The orders were made via COSCO's wholly-owned investment vehicle … [Read more...]
Wärtsilä Sells Majority Stake of 2-Stroke Engine Business to China State Shipbuilding Corp
From now on, Wartsila's 2-stroke engine business will be listed as "discontinued operations" following an announcement today that it has sold a 70 percent stake in that business unit to China State Shipbuilding Corporation (CSSC) via a new joint venture. The transaction is valued at approximately EUR 46 million which now makes CSSC the number 2 two stroke engine builder in … [Read more...]
China State Shipbuilding Wins $108 Million Bulk Carrier Order
British Virgin Islands-based firm Prosperity Investment Ltd has entered into an agreement today with China State Shipbuilding Corporation to build four, 64,000 dwt bulk carriers at CSSC's Huangpu Wenchong shipyard for an aggregate consideration of USD $108 million, or USD $27 million per vessel. Vessel deliveries are expected between 2015 and 2017. … [Read more...]
China’s State Shipyards Help Widen Lead Over Korea in Orders
Aug. 7 (Bloomberg) -- China widened its lead over South Korea as the world’s biggest shipbuilding nation as state-backed yards won contracts for complex gas-carriers while private facilities in the country struggle for funds. China won orders to make ships with a capacity to carry 27.8 million deadweight tons, or 47 percent of global contracts, getting a 7.8 … [Read more...]