CSSC Subsidiary Wins up to US$896 Million Evergreen Feeder Ship Order

The latest announcement is out from CSSC Offshore & Marine Engineering (Group) Company Limited Class H ( (HK:0317) ).

CSSC Offshore & Marine Engineering (Group) Company Limited announced that its controlling subsidiary, CSSC Huangpu Wenchong Shipbuilding, has signed a shipbuilding contract with Evergreen Marine (Asia) Pte. Ltd. for 16 feeder container vessels of 3,000 TEU each, with a total contract value between US$736 million and US$896 million. The vessels, to be paid for in US dollars by instalments and delivered between 2028 and 2030, are expected to enhance the company’s cash flow and future operating results without creating a material dependence on Evergreen as a customer, underscoring CSSC’s solid position in the global container shipbuilding market.

The most recent analyst rating on (HK:0317) stock is a Hold with a HK$15.00 price target. To see the full list of analyst forecasts on CSSC Offshore & Marine Engineering (Group) Company Limited Class H stock, see the HK:0317 Stock Forecast page.

More about CSSC Offshore & Marine Engineering (Group) Company Limited Class H

CSSC Offshore & Marine Engineering (Group) Company Limited is a PRC-incorporated shipbuilding and marine engineering group, with its core business focused on the design and construction of a wide range of vessels. Through controlling subsidiaries such as CSSC Huangpu Wenchong Shipbuilding Company Limited, it serves global shipping companies by supplying container ships and other commercial vessels for international maritime transport.

Average Trading Volume: 6,906,402

Technical Sentiment Signal: Buy

Current Market Cap: HK$36.8B

See more insights into 0317 stock on TipRanks’ Stock Analysis page.