White list is key to shipyard finance

Ship financiers in China's state-owned banks are the main intended readership for a newly released listing of approved shipyards by China's ministry of industry and information.

Financial and markets sources here expect that shipbuilders will find it difficult to secure working capital and refund guarantees without being on the long-awaited list. The White List is a step in implementing Chinese central government guidelines that are meant to strengthen the nation's shipbuilding industry -- not least by concentrating investment and financial support in the yards thought most viable.

The white list had been widely expected to contain about 70 of the many Chinese yards that produce oceangoing ships -- a total that ranges from a few hundred to a couple of thousand, depending on who is counting.

But the initial total of 51 yards may be supplemented with further names yet to be announced later this month.

The list consists of 22 yards in the big state-owned shipbuilding and shipowning groups and 29 independent yards owned by provincial or local governments or by stocklisted or privately held non-state owners. (Click here to read the original announcement in Chinese.)

Some reputable medium-sized yards have been disappointed in what may be a first round of listings, but more strikingly, troubled privately owned giant Rongsheng Heavy Industries was included.

Ministry officials have been working since last year on the listing, whose basis includes questionnaires on a range of subjects including physical plant (such as length of slipway), size of workforce, ship design capabilities, commercial and financial performance history and current orderbook.

These are the 51 yards in the order announced by the ministry, starting with non-group yards whether owned by government or private capital (grouped by province), and finishing with yards that are affiliates of the big central state-owned groups China State Shipbuilding Corp (CSSC), China Shipbuilding Industry Corp (CISC), China Ocean Shipping Co (Cosco), China Shipping Group (CSG) and Sinotrans & CSC.

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Independent yards in Liaoning Province:

1 Dalian Shipyard, Dalian

Independent yards in Jiangsu Province:

2 New Yangzijiang Shipbuilding, Wuxi

3 New Times Shipbuilding, Taizhou (Jingjiang)

4 Rongsheng Heavy Industries, Nantong (Rugao)

5 Yangzhou Dayang Shipbuilding, Yangzhou

6 Taizhou Kouan Shipbuilding, Taizhou

7 Jiangsu Hantong Shipbuilding Heavy Industry, Nantong

8 Zhenjiang Shipyard (Group), Zhenjiang

9 Nantong Mingde Heavy Industry, Nantong

10 Nantong Pacific Marine Engineering, Nantong (Qidong)

11 Sainty Shipbuilding, Yangzhou

12 Jiangsu Eastern Marine Equipment, Taizhou (Jingjiang)

13 Taizhou Sanfu Shipbuilding and Engineering, Taizhou

14 AVIC Dingheng Shipbuilding Co, Yangzhou

 

Independent yards in Zhejiang Province:

15 Jinhai Heavy Industry, Zhoushan (Daishan)

16 Ouhua Shipbuilding, Zhoushan

17 Yangfan Group, Zhoushan

18 Zhejiang Zhenghe Shipbuilding, Zhoushan

19 Zhoushan Changhong International Shipbuilding, Zhoushan

20 Zengzhou Shipbuilding, Zhoushan

21 Zhejiang Shipbuilding, Ningbo

 

Independent yards in Fujian Province:

22 Fujian Mawei Shipbuilding, Fuzhou

23 Xiamen Shipbuilding Industry, Xiamen

Independent yards in Jiangxi Province:

24 Jiangxi Jiangzhou Union Shipbuilding, Jiujiang

25 Tongfang Jiangxin Shipbuilding, Jiujiang

 

Independent yards in Shandong Province:

26 Yantai CIMC Raffles Offshore Ltd, Yantai (Zhifu)

27 Penglai Zhongbai Jinglu Shipbuilding, Yantai (Penglai)

28 Huanghai Shipbuilding, Weihai (Rongcheng)

29 Qingdao Shipyard, Qingdao (Jimo)

 

CSSC group yards:

30 CSSC Huangpu Wenchong Shipbuilding, Guangzhou

31 CSSC Guangzhou Shipyard International , Guangzhou

32 CSSC Jiangnan Shipyard (Group), Shanghai

33 CSSC Hudong-Zhonghua Shipbuilding (Group), Shanghai

34 CSSC Shanghai Shipyard, Shanghai

35 CSSC Shanghai Waigaoqiao Shipbuilding, Shanghai

36 CSSC Shanghai Jiangnan Changxing Shipbuilding, Shanghai

37 CSSC Shanghai Jiangnan Changxing Heavy Industry, Shanghai

38 CSSC Guijiang Shipbuilding,Wuzhou City, Guangxi

39 CSSC Guangzhou Wenchong Shipyard, Guangzhou

 

CSIC group yards (5):

40 CSIC Bohai Shipbuilding Heavy Industry, Huludao, Liaoning

41 CSIC Dalian Shipbuilding Industry Corp, Dalian, Liaoning

42 CSIC Qingdao Beihai Shipbuilding Heavy Industry, Qingdao, Shandong

43 CSIC Shanhaiguan Shipbuilding Heavy Industry, Qinhuangdao, Hebei

44 CSIC Wuchang Shipbuilding Industry Group, Wuhan, Hubei

 

Cosco group yards (4):

45 Nantong Cosco KHI Ship Engineering, Nantong, Jiangsu

46 Dalian Cosco KHI Ship Engineering, Dalian, Liaoning

47 Cosco Shipyard , Guangdong, Dongguan, Guangdong

48 COSCO Dalian Shipyard, Dalian, Liaoning

 

China Shipping group yard (1):

49 CSG China Shipping Industry (Jiangsu), Yangzhou, Jiangsu

 

Sinotrans & CSC group yards (2):

50 CSC Jinling Shipyard, Nanjing, Jiangsu

51 CSC Qingshan Shipyard, Wuhan, Hubei

 

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