On September 1, CSSC (Hong Kong) Shipping Company Limited (hereinafter referred to as “CSSC (Hong Kong) Shipping”) announced that it had entered into ten shipbuilding contracts with CSSC Chengxi Shipyard for the construction of ten 80,000 DWT bulk carriers. CSSC Guangxi Shipbuilding, acting as one of the builders for this batch of vessels, is jointly responsible with CSSC Chengxi Shipyard for their design, construction, and delivery.
The announcement discloses that the consideration for each vessel is RMB323.5 million, with a total consideration of RMB3.235 billion (approximately US$481 million); the new vessels are expected to be delivered between September 30, 2029, and December 31, 2030. The shipbuilding contract will become effective subject to, among other things, approval by independent shareholders at a special general meeting.
CSSC (Hong Kong) Shipping stated that the vessel acquisition aligns with its ongoing strategy to modernize its fleet with high-quality ships. In light of increasingly stringent maritime regulations, the company decided to order new vessels featuring custom designs that meet the latest environmental standards.
These vessels offer superior energy efficiency and operational performance compared to the bulk carriers currently operated by CSSC (Hong Kong) Shipping, while fully complying with the latest environmental regulations and industry specifications. This move supports the company’s long-term goal of maintaining a modern fleet and aligns with its business development strategy.
CSSC Chengxi Shipyard is a key enterprise under CSSC and a core player in Jiangsu Province’s shipbuilding and marine engineering industry. Its primary business operations encompass ship repair and conversion, shipbuilding, marine engineering construction and repair, wind power tower fabrication, steel structure manufacturing, and the repair and manufacture of electromechanical equipment. The company operates three production bases: its headquarters in Jiangyin, CSSC Chengxi (Taizhou) Equipment Technology Co., Ltd., and CSSC Chengxi Shipbuilding (Yangzhou) (which focuses primarily on shipbuilding).
CSSC Guangxi Shipbuilding is a major, modern large-scale shipbuilding and repair enterprise in the Beibu Gulf region. It is a wholly state-owned company jointly held by CSSC, Guangxi Beibu Gulf Investment Group, and CSSC Chengxi—with shareholdings of 69.2%, 18.2%, and 12.6%, respectively—and operates as a second-tier subsidiary managed by CSSC. Currently, its business focuses on the construction of vessels under 20,000 DWT; the repair and conversion of vessels and marine engineering equipment under 100,000 DWT; and the manufacture of non-marine equipment, such as wind power towers.
Recently, construction began on a 100,000-ton class integrated floating dock invested in and built by CSSC Guangxi Shipbuilding, marking the company’s entry into the 100,000-ton class shipbuilding capability tier.