China Merchants Industry expands into containership manufacture with acquisition of Qingdao Yangfan Shipbuilding

Chinese conglomerate China Merchants Industry Holdings (CMI) recently completed its acquisition of Qingdao Yangfan Shipbuilding.

Following the acquisition, Qingdao Yangfan Shipbuilding began operating as China Merchants Industry Qingdao Shipyard.

With this acquisition, CMI will also begin building container vessels whereas its existing portfolio includes car carriers, Ro-Ro vessels, chemical tankers, and medium-sized bulk carriers.

CMI expects the move will help it integrate and optimise its shipbuilding resources and layout, thus enhancing its shipbuilding capacity.

CMI presently owns Yiulian Dockyards (responsible for ship maintenance and conversion), China Merchants Heavy Industry (offshore engineering equipment manufacturing), China Merchants Jinling Shipyard (special ship manufacturing) and China Merchants Cruise Manufacturing Company (luxury cruise ship manufacturing).

The group has also deployed multiple production and manufacturing bases in core areas such as the Bohai Bay, the Yangtze River Economic Belt, the Yangtze River Delta region and the Guangdong-Hong Kong-Macau Greater Bay Area.

Qingdao Yangfan Shipbuilding was originally established in 1949 as Qingdao Shipyard. Prior to acquisition by CMI, it operated as a wholly-owned subsidiary of Qingdao Huatong State-owned Capital Operation.

Qingdao Yangfan Shipbuilding’s facilities in Qingdao City cover 79 hectares and include a 1,090-metre long outfitting dock and one large and one small dry dock.

Source: bairdmaritime.com