Seatrade-Maritime: Shipbuilder CSSC net profit surges 163% in H1 2026

Published by Seatrade-Maritime

During the first half of 2026 CSSC recorded an operating revenue of RMB91.53 billion ($13.28 billion), rising 26% year-on-year. Its net profit soared 163.5% to RMB9.95 billion, marking a profitability breakthrough.

The shipyard group’s performance was mainly underpinned by increased deliveries of high-end civil vessels, a higher proportion of premium ship types, and rising average vessel prices, which collectively drove steady year-on-year business improvement.

In H1 2026, CSSC secured new orders for 177 civil and offshore vessels, with a total deadweight tonnage of 22.45 million dwt and a contractual value of RMB119.39 billion.

Specifically, ordered deadweight tonnage surged 128.82% year-on-year, while the total order value jumped 93.06% from a year earlier. Beyond new vessel contracts, the company gained 367 ship repair orders worth RMB 2.596 billion.

As of the end of June, the company maintained a large and diversified order backlog, with 729 undelivered civil and offshore vessels on hand. The pending orders reached 93.89 million dwt in deadweight and RMB 526.27 billion in contractual value, providing solid long-term operational visibility.

In terms of vessel structure, oil tankers account for 30% of the total order volume by ship count, followed by container ships at 20%, bulk carriers at 15%, liquefied gas carriers at 10%, and special-purpose vessels and other ship types jointly taking up 25%.

In addition, the company held 157 outstanding ship repair orders valued at RMB 1.02 billion.

On the production and delivery front, CSSC completed the delivery of 102 vessels in the first half of 2026, covering 9.56 million dwt, which accounted for 60.71% of its full-year delivery target and represented a 27.50% year-on-year increase. The company also completed 397 ship repair projects, generating RMB 3.069 billion in repair revenue.

CSSC emphasized that the shipbuilding industry is highly correlated with global economic trends and shipping market cycles. Market prosperity, newbuilding vessel pricing and comprehensive construction costs are key variables shaping shipyard profitability, while the dual development of military and civil ship businesses serves as the core pillar supporting the company’s sustained growth.