Chinese shipping conglomerate Cosco Shipping Corporation (Coscocs), formed by the merger of Cosco and China Shipping, started to restructure its shipbuilding assets.
Coscocs will use its subsidiary Cosco Shipbuilding Industry restructuring as a platform for the transmission of ship-building and ship-repair assets, including assets Cosco Shipyards, China Shipping Industry, NACKS, DACKS.
In accordance with the restructuring plan, the group also plans to reduce its total shipbuilding capacity to 12,050,000. To 10.60 million. Deadweight up to the end of 2017, and further to 9.6 million. Deadweight up to the end of 2020 Chinese shipyard Jiangsu cease operations.
At the same time, Coscocs will move with Cosco Shanghai Shipyard Shipyard on China Shipping Industry’s Shanghai Changxing, while shipping conglomerate closes some ship repair docks with lower bandwidth at its shipyards in Shanghai.
