China has restructured major shipyards in order to consolidate resources and optimise operations amid challenging market conditions.
Industry officials say three shipbuilding conglomerates will dominate the country's resulting yard picture — the giant state shipbuilding entity created by the merger of China Shipbuilding Industry Corporation (CSIC) and China State Shipbuilding Corporation (CSSC), the merged entity of China International Marine Containers (CIMC) and China Merchants Heavy Industry (CMHI), and China Cosco Shipbuilding Heavy Industry (CHI).
