China’s largest privately owned steelmaker, Shagang, has entered the shipbuilding business with the establishment of a wholly owned subsidiary in Tianjin, joining a growing procession of industrial groups looking to capitalise on China’s booming newbuilding market.
Jinsha Heavy Industry (Tianjin) has just been registered 8 with capital of RMB70m ($10m). Its business scope encompasses shipbuilding, ship design, repair and conversion, offshore engineering equipment and marine components, according to Chinese corporate filings.
The venture is based in Tianjin’s Binhai New Area, but Shagang has yet to announce a shipyard acquisition, construction facilities or any vessel orders.
Shagang is already a heavyweight steel plate supplier to Chinese yards. The Jiangsu-based group also has shipping, terminal and logistics interests tied to its steel operations.
China’s dominance of global shipbuilding continues to strengthen. According to Clarksons data, Chinese yards secured 76% of all newbuilding orders by cgt in the first nine months of 2026, compared with South Korea’s 15%. By the end of September, China controlled 68% of the global orderbook on the same measure, against South Korea’s 17%.
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Sam Chambers
Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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