Shanghai and Chengxi merge

Shanghai Shipyard and Chengxi Shipyard in Jiangsu, China, merged recently to form a combined newbuilding and ship repair company called Shanghai Chengxi Shipyard.

Shanghai Shipyard has an annual shipbuilding capacity of 200,000DWT and a ship repair turnover of value of $24 million while Chengxi Shipyard focuses mainly on ship repair. When the first phase of the Chong Ming Island shipbuilding facility is completed in August, Shanghai?s annual shipbuilding capacity will be increased to 300,000DWT.

The annual shipbuilding capacity of the newly established company is 500,000DWT with ship repair earnings turnover estimated at $120 million.