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Cosco Shipping arm readies China IPO to capitalise on global shipbuilding wave
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Frank Chenin ShanghaiPublished: 3:00pm, 14 Sep 2026The shipbuilding and maintenance arm of state-owned marine transport giant China Cosco Shipping has completed initial public offering (IPO) guidance registration, paving the way for a domestic listing to capitalise on a global shipbuilding boom.
Cosco Shipping Heavy Industry finished its pre-IPO registration and preparations, according to information released on the China Securities Regulatory Commission website on Saturday.
Specialising in cargo and container vessels, the unit offers construction, repair, conversion, maintenance and offshore engineering services. It is wholly owned by China Cosco Shipping, headquartered in Shanghai.
Operating nine shipyards across Shanghai, Nantong, Dalian and southern China, Cosco Shipping Heavy Industry commands a dominant market share in repairing and converting ships into floating facilities for the offshore oil and gas industry.
Operating revenue reached nearly 40 billion yuan (US$6 billion) in 2024, with profits of 3 billion yuan. Revenue for 2025 soared 22 per cent.
Company data showed that in 2025 it secured new shipbuilding orders for 79 vessels worth 41.3 billion yuan and delivered 62 vessels totalling 6.31 million deadweight tonnes (DWT). Its order book stood at 216 vessels amounting to 24.77 million DWT at the end of 2025.
The IPO is expected to ride a new upwards cycle in global shipbuilding despite prolonged disruption to transit through the Strait of Hormuz, as deliveries fail to meet robust demand.AdvertisementSelect VoiceSelect Speed1xAI-generated voice