ShippingWatch

Media: China's two largest yards pressured to merger

The Chinese government is encouraging the country's two largest yards to consider a merger, due to the poor conditions for China's shipping yard industry, reports the Financial Times.

Chen Qiang, CEO for Rongsheng.

The merger has become a topic of interest for China's two largest yards - China Rongsheng Heavy Industries and Yangzijiang Shipbuilding - which are listed on the exchange in Singapore. The latter has been encouraged by Chinese authorities to purchase shares in Rongsheng.

This decision follows the slowdown of China's growth and the influence that this development has on China's yards and the yards' customers, which are losing motivation to place orders, reports the Financial Times.

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