CSSC Holdings riding high but warns on steel prices
Chinese state-backed shipbuilding giant has order book filled until end of 2023.
Shanghai-listed China CSSC Holdings is riding high on the back of a booming newbuilding market, but has warned that margins are being eroded due to high steel prices.
The jewel in the crown of the state conglomerate owns some of China’s major yards, including Shanghai Waigaoqiao Shipbuilding, Guangzhou Shipyard International and Chengxi Shipyard.
Company executives recently revealed that CSSC has been able to take advantage of a healthy demand for newbuildings with delivery slots booked until the end of 2023.
“The market has started to recover, and we are seeing better newbuilding prices and more orders,” president Ji Jun said.
