According to the Zhongguancun Finance and Economics app, CSSC Offshore & Marine Engineering (00317) rose more than 4%, with a cumulative increase of nearly 50% this year. As of press time, it has risen 4.48% to HKD 15.4, with a turnover of HKD 20,589,600.

On the news side, the China Association of the National Shipbuilding Industry released the latest data, showing that the three major indicators of shipbuilding maintained synchronous growth in the first quarter of 2024. The national shipbuilding completion volume was 12.35 million deadweight tons, a year-on-year increase of 34.7%; the new orders were 24.14 million deadweight tons, a year-on-year increase of 59.0%; as of the end of March, the backlog was 154.04 million deadweight tons, a year-on-year increase of 34.5%. The data shows that as of 2023, China's shipbuilding industry has ranked first in the world for 14 consecutive years in the three key indicators of completion volume, new orders, and backlog.

It is worth noting that Guangzhou Shipyard International (GSI) has squeezed out a few 26-year-old finished oil ****r berths for its old customer Pacific Basin to receive orders for four LNG dual-fuel finished oil ****rs. The price of each ship is between $82-83 million. The shipowner had previously placed orders for the same type of ship at GSI in June 2023 and February 2024. The insert order price has risen by 13%-18% compared to these two orders. It is reported that CSSC Offshore & Marine Engineering has Huangpu Wenchong and GSI as its subsidiaries, controlling Wenchong Shipyard, Huangpu Heavy Industry, Wenship Heavy Industry and other companies through its holdings of Huangpu Wenchong, and participating in GSI.