On September 12, China’s largest private shipbuilder, Yangzijiang Shipbuilding, announced that it had signed a joint venture agreement with Tsuneishi Holdings, under which Yangzijiang Shipbuilding will acquire a 34% stake in Tsuneishi Group (Zhoushan) Shipbuilding Inc. for a consideration of RMB 833 million (US$117 million), all of which will be paid in cash. Tsuneishi Group (Zhoushan) Shipbuilding will become an associate of the Yangzijiang Shipbuilding Group.
Yangzijiang Shipbuilding and Tsuneishi Group (Zhoushan) Shipbuilding have always been deeply engaged in the shipbuilding industry and committed to enhancing innovation and sustainable development. In recent years, the two sides have been actively exchanging and interacting in shipbuilding-related fields and have established a foundation for friendly cooperation.
The signing of this agreement will have a deeper impact on the development of both parties. Through this deepening cooperation, the two sides will actively utilize their respective advantages and resources in capital, technology, talent, supply chain etc., contributing to the prosperity of the shipping industry.
Established in 1956, Yangzijiang Shipbuilding (Holdings) Ltd. is one of the largest non-state-owned shipbuilding companies in China. The Group is listed on SGX Mainboard since April 2007 and is currently one of the Straits Times Index (“STI”) constituent stocks. With four shipyards in Jiangsu Province, China along the Yangtze River, the Group produces a broad range of commercial vessels including large containerships, bulk carriers and LNG carriers, serving the orders from a well-established customer network covering Northern America, Europe and other parts of the world. Since listing on SGX, it has delivered consistent growth in the past ten years.
established in March 2003, Tsuneishi Group (Zhoushan) Shipbuilding is a TSUNEISHI Group company closely affiliated with TSUNEISHI SHIPBUILDING, Located in Daishan County, Zhoushan City, Zhejiang Province. Fully equipped with two shipbuilding berths and one building dock, TZS has versatile shipbuilding capabilities with a focus on 30,000- to 100,000-ton-class bulk carriers while also building container carriers, product tankers, and tug boats.
In addition to its internal training system, TZS proactively 2 partners with various educational institutions in the shipbuilding field to develop next generation talent who will lead the future shipbuilding industry.