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|Three Chinese State-Owned Entities To Jointly Operate Shipyard In Guangzhou|
|= Baosteel Group, China State Shipbuilding Corp, China Shipping Group sign LOI =|
Baosteel Group of China has lately announced the signing on March 28 with China State Shipbuilding Corporation (CSSC) and China Shipping (Group) Company of a Letter of Intent (LOI) agreeing on cooperation for Longxue Base Shipbuilding Project. Under the LOI the three parties will set up a joint venture with Longxue Shipbuilding Base owned by CSSC as the main body, to jointly operate the largest shipbuilding base in the southern China.|
CSSC is headquartered in Shanghai city, controlling major shipyards and associated companies located in Huadong and Huanan regions.
In 2007 Baosteel imported approximately 34 Mt of iron ore. In Sep. 2007 it announced it would increase crude steel production capacity to 80 Mt/a by 2012.
China Shipping Group stands second in the country after COSCO, and ranks 15th worldwide. Owning 436 ships, it can transport a total of 370 Mt of cargo a year, most of which constituting crude oil and coal. Dalian Shipbuilding Heavy Industry is currently building 300,000-dwt class ships for the Company.
|last modified : Wed 09 Apr, 2008 [11:52]|