Rongsheng Heavy Industries Restarts Business

The once bankrupt Chinese shipbuilder Rongsheng Heavy Industries has restarted business under the new name of Jiangsu New Rongsheng Heavy Industry.

Rongsheng was previously the largest private shipbuilding company in China, and it owned four large docks, eight outfitting quays and two material quays. Its last vessel was delivered in 2017.

Now, local media are reporting the yard has secured orders for eight dual-fuel LNG 11,500 TEU container ships from MSC and two 210,000dwt bulk carriers from Capital Maritime.

The orders could be worth over $1.4 billion.

China captured over 70% of global orders for green vessels and achieved full coverage across all mainstream ship types during the first three quarters of 2024, according to statistics released by the Ministry of Industry and Information Technology in October.

Chinese shipyards saw new orders surge 51.9% year-on-year to 87.11 million dwt between January and September, accounting for 74.7% of the global total. The country's shipbuilding output reached 36.34 million dwt, up 18.2% on a yearly basis, making up 55.1% of the world's total.