In the summer of 2014, Finland-based Wärtsilä entered into an agreement for a joint venture with the largest Chinese ship building group CSSC (China State Shipbuilding Corporation). The joint venture will take over Wärtsilä's two-stroke engine business in China, and CSSC will own 70 percent with 30 percent owned by Wärtsilä.
"The Wärtsilä-CSSC deal is a blow to MAN-B&W, the other heavy weight in the low speed engine business, as CSSC will likely prod its customers into opting for Wärtsilä-CSSC rather than the engines of the German-Danish concern, although the clients of the shipyards have the final say in terms of engine choices," says Alphaliner in an analysis.
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