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China Cosco Shipping's shipbuilding and maintenance division has completed its initial public offering (IPO) registration, signaling its plans to list on the domestic market and capitalize on the global shipbuilding boom. The unit focuses on cargo and container vessels, providing services such as construction, repair, conversion, maintenance, and offshore engineering.

It operates nine shipyards in major Chinese cities, holding a significant market share in repairing and converting ships for the offshore oil and gas sector. Revenue reached nearly 40 billion yuan (US$6 billion) in 2024, with profits of 3 billion yuan. For 2025, revenue surged 22 percent, with new shipbuilding orders totaling 79 vessels worth 41.3 billion yuan and 62 vessels already delivered, amounting to 6.31 million deadweight tonnes (DWT).

The company's order book stands at 216 vessels, valued at 24.77 million DWT as of the end of 2025. The IPO aims to benefit from the expected upward trend in global shipbuilding despite disruptions in the Strait of Hormuz. Global newbuilding orders in the first half of 2026 reached 137.4 million DWT, a surge of over 125 percent year-on-year.

Chinese shipbuilders continue to dominate the market, with their yards accounting for 66.8 percent of global orders in 2025. The Chinese Association of the National Shipbuilding Industry reported that Chinese shipyards' order book represented 66.8 percent of the global total in 2025, with 363.25 million DWT in total orders for 2025, a 54.9 percent year-on-year increase.

Chinese shipyards secured the majority of new orders globally for bulk carriers, container ships, and oil tankers. The IPO aligns with China's strategy to create industrial conglomerates, enhancing global competitiveness. In 2025, China State Shipbuilding Corporation absorbed China Shipbuilding Industry Corporation in a 115 billion yuan deal, forming CSSC Holdings, which now has a market capitalization of nearly 300 billion yuan.