China’s State-Backed Shipbuilders Overcome Coronavirus Slump

Caixin Global | Jun 29, 2020 at 3:24 PM
  • (Nikkei Asian Review) —China’s government-backed shipbuilders are busy despite the hammering the global shipping market has taken from the novel coronavirus pandemic.
  • CSSC beat out Korea Shipbuilding & Offshore Engineering, a formidable South Korean rival whose units include Hyundai Heavy Industries.
  • Added to that, in April, CSSC received an order worth over 20 billion yuan for liquefied natural gas tankers from Qatar Petroleum, the Persian Gulf nation’s state-run oil company.