World’s Biggest Shipbuilder

After the merger of state-run shipbuilders China State Shipbuilding Corp (CSSC) and China Shipbuilding Industry Co (CSIC), world’s biggest shipbuilder is established in China with assets of $112 billion. China State Shipbuilding Corp (CSSC) and China Shipbuilding Industry Co (CSIC) merger is named as China Shipbuilding Group which will be the world’s largest shipyard company. China Shipbuilding Group has 147 research institutes, business units and listed firms and 310,000 employees. China State Shipbuilding Corp (CSSC) and China Shipbuilding Industry Co (CSIC) merger will boost operational efficiency. China State Shipbuilding Corp (CSSC) and China Shipbuilding Industry Co (CSIC) merger has been in the making since Hu Wenming, a former China communist party leader of the state-owned aviation industry, was assigned to China State Shipbuilding Corp (CSSC) as party secretary in 2010. Actually, China State Shipbuilding Corp (CSSC) and China Shipbuilding Industry Co (CSIC) merger was planned in 2009. Hu Wenming was retired in October 2019 ahead of the merger. China State Shipbuilding Corp (CSSC) chairman Lei Fanpei will led China Shipbuilding Group. China Shipbuilding Group will be the world’s largest shipbuilding company, with more than 10% of the global ship newbuilding orderbook. China Shipbuilding Group is set to control more than 50% of China’s shipbuilding capacity. China Shipbuilding Group is going to control giant shipyards such as Hudong-Zhonghua Shipbuilding, Jiangnan Shipyard, Shanghai Waigaoqiao Shipbuilding, CSSC Offshore & Marine Engineering and Dalian Shipbuilding Industry Co.