Posted on October 14, 2026
Shagang, described as China’s largest privately owned steelmaker, has moved into shipbuilding by setting up a wholly owned subsidiary in Tianjin, according to Splash247. The Jiangsu-based group joins a widening group of industrial companies seeking to take advantage of China’s expanding newbuilding market.
The new entity, Jinsha Heavy Industry (Tianjin), has been registered with capital of RMB70m, equivalent to $10m. Its stated business scope covers shipbuilding, ship design, repair and conversion, offshore engineering equipment and marine components, based on Chinese corporate filings. The venture is located in Tianjin’s Binhai New Area. Shagang has not yet announced a shipyard acquisition, construction facilities or any vessel orders.
Shagang already ranks as a major steel plate supplier to Chinese yards. The group also holds shipping, terminal and logistics interests connected to its steel operations.
China’s position in global shipbuilding continues to strengthen. Citing Clarksons data, Chinese yards took 76% of all newbuilding orders measured by compensated gross tonnage in the first nine months of 2026, while South Korea accounted for 15%. By the end of September, China held 68% of the global orderbook on the same measure, compared with South Korea’s 17%. Please mention the Source: https://www.indexbox.io/blog/shagang-enters-shipbuilding-with-new-tianjin-subsidiary/
