China Merchants revives another shipyard

AI Summary

China Merchants is moving to take control of the dormant Quanzhou Shipyard in Fujian under a strategic cooperation agreement with local authorities. The move is part of a broader revival of Chinese shipyards that has substantially expanded the country’s shipbuilding capacity.

China Merchants is moving to take control of the long-dormant Quanzhou Shipyard in Fujian province, the latest in a string of yard revivals that has seen China’s shipbuilding capacity nearly double in recent years. The state-owned conglomerate has signed a strategic cooperation agreement with Quanzhou authorities, paving the way for the revival of a facility …