Jinan Steel inks pact with shipbuilders

Jinan Steel Group in China has recently signed strategic cooperation agreements with seven key shipbuilders in Shandong, to consolidate their production-demand chain of shipbuilding steel plates to the mutual benefit of all participants.

Jinan Steel is the largest steelmaker in Shandong and the largest shipbuilding plate supplier in China, boasting over 30% shares of the domestic market. With a total of over 70% of shipbuilding orders in Shandong, the seven shipbuilders, including Huanghai Shipbuilding, Qindao Shipyard and Weihai Shipyard, are the main local consumers of shipbuilding plates. These yards have full order books full through to 2011.