• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News

Inside the world’s largest $112.2 billion shipbuilding firm 

Joseph Olaoluwa by Joseph Olaoluwa
November 27, 2019
in Business News, Company News, Diaspora
Inside the world's largest $112.2 billion shipbuilding firm 
Share on FacebookShare on TwitterShare on Linkedin

The world’s largest shipbuilding group has been inaugurated in China. The group, which is the first-ever shipbuilding company in the world is valued at $112.2 billion, as reported by Business AM.

The Details: The group is a product of a merger between two of the largest state-owned shipbuilders by production capacity, China Shipbuilding Industry Corp (CSIC) and China State Shipbuilding Corporation (CSSC). This is according to the China State Shipbuilding Corporation (CSSC) in a statement.

Capacity: CSSC boasts of 310,000 employees and holds total assets of CNY 790 billion, a value estimated to reach $112.2 billion. This is coming after the Chinese state asset regulator approved the merger.

RelatedStories

No Content Available

Inside the world's largest $112.2 billion shipbuilding firm 

Elated about the merger, Hao Peng, Chairman of the State-owned Assets Supervision and Administration Commission (SASAC), noted that the establishment of China Shipbuilding Corporation would help bring moribund state enterprises to life and reposition the domestic shipbuilding industry for growth, and healthy competition. It’s also expected to strengthen the development of the national defence technology industry

About China Shipbuilding Industry Corporation: China Shipbuilding Industry Corporation (CSIC) is China’s state-owned shipbuilder. In addition to civilian vessels, such as freight carriers and oil tankers. CSIC also builds submarines and escort vessels, torpedoes and other weapons, as well as conducts offshore drilling. It is one of China’s top 10 military companies, helping to research and make about 80% of the Chinese navy’s main equipment.

CSIC was spun off from China State Shipbuilding Corporation in July 1999. It has about 150,000 employees, including China’s scientific and technological elites and about 40,000 engineers. It has six national research and development centres, and nine national-class laboratories. Its annual shipbuilding capacity is 15 million tons. It exports liquefied natural gas and liquefied petroleum gas carriers to more than 60 countries.

About China State Shipbuilding Corporation: The China State Shipbuilding Corporation (CSSC) is the largest shipbuilding conglomerate in the world. Headquartered in Beijing, the CSSC handles mostly shipbuilding activities in China.

CSSC is one of the top 10 defence groups in China. It consists of various shipyards, equipment manufacturers, research institutes and shipbuilding related companies. Some of the well-known shipbuilders in China such as Jiangnan Shipyard and Hudong–Zhonghua Shipbuilding are currently owned by CSSC. Its subsidiary, China CSSC Holdings Limited (SSE: 600150), is listed on the Shanghai Stock Exchange, and in turn, owns other subsidiaries including Shanghai Waigaoqiao Shipbuilding.

On 1 July 1999, some of its companies were spun off by the Government to form a separate conglomerate group, China Shipbuilding Industry Corporation (CSIC), which holds shipbuilding activities in the north and the west of China and CSSC deals with those in the east and the south of the country.

On 26 November 2019, Government of the People’s Republic of China established a new China State Shipbuilding Corporation with the holding company to merge with CSIC again after SASAC approved.


Follow us for Breaking News and Market Intelligence.
Tags: China Shipbuilding Industry CorpChina State Shipbuilding CorporationHao Peng
Joseph Olaoluwa

Joseph Olaoluwa

Reincarnated as a lover of stocks, Angel investors, seed funds, and anything aligned to tech or startups raising money, Joseph's work at Nairametrics involves following the money to wherever it leads. Before joining Nairametrics, he won an investigative journalism fellowship with ICIR, appeared in several national dallies, with hard-hitting opinions, features and investigative pieces. He has also engaged in content marketing and copywriting for a top e-commerce firm in Nigeria.

Related Posts

No Content Available
Next Post
Here’s how your business can grow revenue in tough conditions (PART 2)

Here’s how your business can grow revenue in tough conditions (PART 2)

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • Meta acquires AI voice startup Play AI to boost audio content innovation 
  • Bitcoin soars past $121K, smashing records with no end in sight
  • Akwa Ibom Govt. to shut down health facilities with unqualified staff, enforce stricter regulations 

Follow us on social media:

Recent News

Meta announces Llama impact grant for Sub-Saharan African Startups, researchers

Meta acquires AI voice startup Play AI to boost audio content innovation 

July 14, 2025
Bitcoin

Bitcoin soars past $121K, smashing records with no end in sight

July 14, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics