La OPV de los astilleros de Cosco apuntala su ambición marítima
El gigante chino aprovecha el auge naval para sacar a Bolsa su filial y reforzar el dominio de su país en el sector
China's Cosco Shipping plans to float its shipbuilding subsidiary to fund expansion, bolstering its extensive empire that spans ports, logistics, container rentals, naval engineering, and more. China's state-owned group is a key player in the global shipping sector, operating the world's largest merchant fleet with 1,729 vessels as of July, and a network covering over 1,500 ports across 160 countries and regions.
Cosco Shipping Heavy Industry, its shipbuilding arm, was established just a decade ago and is now the fifth-largest shipbuilder by new orders and the largest ship repairer.
The industry is booming due to an aging fleet, new environmental regulations, and geopolitical turmoil, prompting companies to invest and expand their fleets. Chinese shipyards are among the biggest beneficiaries, capturing 74% of global new orders in the January-July period, according to Clarksons Research. However, Cosco Shipping Heavy remains relatively new, having not disclosed key information about its plans, including the amount it aims to capture.
Its 2025 revenue grew by 22% to 6.5 billion, according to documents from various Cosco affiliates, compared to the 19.8 billion generated by the industry leader, China State Shipbuilding.
The biggest challenge may come from abroad. The United States has made shipbuilding a strategic priority, with US shipyards contributing less than 1% of the global commercial production. A key piece to reviving the sector is South Korea, which committed 130.5 billion in investments in the US naval sector as part of a bilateral agreement in June.
Cosco has already faced pressure, being included in the US Department of Defense's list of entities allegedly collaborating with the Chinese Army. According to Reuters, Washington accuses the company of using hidden equipment for espionage. Another risk is the possibility of the White House reactivating proposals to impose docking fees on Chinese-made ships or those flying the Chinese flag. Relying on capital markets could provide Cosco with a larger cushion for the upcoming turbulence.
Written by urgent.news from El Pais Economia's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
