China Merchants Group signed a strategic cooperation agreement with the Quanzhou Municipal Government to take over the long-term discontinued Quanzhou Shipyard in Fujian. The plant covers an area of 134 hectares, has a coastline of 3.6 kilometers, and has two dry docks that can accommodate 300,000 deadweight tons ships; ship repair business has resumed in 2023, but large-scale shipbuilding has basically been suspended for more than ten years. This restart means a substantial return of shipbuilding capabilities. In the past 18 months, China Merchants has successively integrated or restarted Qingdao, Nanjing, The shipyard assets in Wuhan, the financial terms of the transaction and the final shareholding structure have not yet been disclosed. Clarkson Research data during the same period showed that the global backlog of orders reached 226.1 million corrected gross tons (CGT), exceeding the old peak of 225.5 million CGT in September 2008, and was worth approximately US$700 billion, of which Chinese shipyards accounted for 68%.
Eastway, a shipowner and ship management company under Singapore's X-Press Feeders/Sea Consortium Group, signed a construction contract for four 157,000-dwt Suezmax tankers with Penglai Zhongbai Jinglu Shipbuilding, to be delivered from 2029 to 2030. The cost of a single ship is about US$80 million, and the total contract value is about US$320 million. The group previously operated LR2 product oil tankers and exited the tanker ownership after selling the last one in 2025. This order is a return and a diversification from the main container transportation. The order information comes from Alphaliner statistics.
Bomaike Offshore Engineering (603727) disclosed the 2026 "Improving Quality, Increasing Efficiency and Rewarding" 2.0 Action Plan on November 11, saying that a number of large orders have been landed during the year. The total number of new contracts signed so far has exceeded 6 billion yuan, and the scale of orders by the end of the year is expected to reach a new high. The company is positioned as a module EPC service provider for international customers, relying on the 770,000 square meter production base in Lingang, Tianjin. With more than 1 km of shoreline terminals and FPSO, FLNG, and FSRU project assembly capabilities, nearly 100% of the business comes from overseas customers. The operating income from 2023 to 2025 was 1.79899 billion yuan, 2.64023 billion yuan, and 1.90037 billion yuan respectively. The company explained that it is an order-driven business, and the income fluctuates with the project delivery node; at the same time, it is deploying offshore wind power in addition to the main businesses of LNG and offshore oil and gas. Hydrogen energy and other new energy modular equipment.
Saipem announced in Milan on November 4 that the tribunal of the Brazilian antitrust agency CADE has approved the merger of Saipem and Subsea7 to form Saipem7, provided that the commitments listed in the Merger Control Agreement are fulfilled. In response to the competition concerns raised by CADE during the review, the two parties committed to divestment of the pipe-laying vessel "Seven Borealis" and set specific terms for this commitment to ensure the continuous execution of the existing project backlog. The two companies said, The divestiture is not expected to materially affect the strategic logic of the merger, and the previously announced synergies are confirmed; the transaction is still subject to the remaining conditions of the joint merger plan approved by shareholders of both parties.
The three parties released the second version of the outlook report in Rome on November 11, with Bain Italy providing technical support. The report stated that among the four indicators shaping the transition, regulatory framework, macroeconomics, and fuel and infrastructure availability have deteriorated compared to last year, with regulatory uncertainty having the greatest impact: The IMO global agreement has been postponed, nearly 90% weighted by tonnage supports a more gradual path, the United States clearly opposes the decarbonization of maritime shipping, and Europe reiterates the FuelEU maritime stated goals. Under the reference scenario "Today as Future", In 2050, European emissions intensity will drop by 80% compared with 2020, and the global drop will be about 40%; another scenario, "Decarbonization by 2070" (Decarbonization by 2070), will postpone Europe's compliance to the standard until 2070. The low-emission hydrogen value chain has lost momentum, and multiple maritime projects have been suspended. Shipowners therefore prefer mature and immediately available solutions; synthetic fuels are still the only way to net zero, but the cost is high and the supply chain has not yet been formed.
The Maritime and Port Authority of Singapore (MPA) and the National University of Singapore NUSX announced the results of the 10th PIER71 Smart Port Challenge. This year, 586 proposals were received from 281 start-ups from 39 countries, setting a record. Australia's Ocean Intelligence won the Best Start-up Award for its AI voyage optimization platform, which combines ocean currents, weather and ship characteristics to plan more fuel-efficient routes; South Korea's Vueron Technology won the Best Growth Stage Enterprise Award for its AI lidar sensing solution for autonomous mobility and industrial security, with two awards of S$15,000 each. Beijing Trunk Technology received a special mention from the judges and won the Smart Port Award sponsored by PSA Singapore and PSA Ventures.
HII's Ingalls Shipbuilding and the U.S. Navy Gulf of Mexico Supervision and Modification Office (SUPSHIP GC) broke ground on November 11 for a new 101,000-square-foot customer support complex with an investment of $50 million, jointly funded by the Navy and Ingalls. The facility will mainly house SUPSHIP GC personnel currently stationed in Pascagoula, which manages Navy shipbuilding contracts across Mississippi, Louisiana and Alabama. It has more than 600 military and civilian personnel responsible for engineering, quality assurance, contract management and financial supervision throughout the construction and delivery process.
Qingdao Port International (601298) announced on November 11 that it plans to acquire 70% of the equity of Qingdao Port Dongjiakou Ore Terminal Co., Ltd. jointly held by Guanxing Investment, Shanghai COSCO Shipping Port Investment, and Wanbang Qingdao Port Investment through public delisting on the Beijing Equity Exchange. The listing price is 1.91769 billion yuan, of which the three parties will transfer 25%, 25%, and 20% respectively. The company currently holds 30% of the equity of the target, and became fully-owned after the transaction, with the purpose of strengthening the operation and management rights of the bulk dry bulk business in Dongjiakou Port. This constitutes a related transaction but does not constitute a major asset reorganization. The amount does not reach 5% of the 2025 audited net assets and still needs to be reviewed by the shareholders' meeting; the source of funds is its own funds, and it will be paid in one lump sum within 5 working days after the property rights transaction contract takes effect.