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Hengli Heavy Industry starts expansion, mulls IPO

Chinese shipbuilder Hengli Heavy Industry has broken ground on a new yard to expand its capacity in Dalian.

Katherine Si, China Correspondent

August 16, 2024

1 Min Read
Hengli Heavy Industry expansion
Photo: Hengli Heavy Industry

The second phase project of Hengli Heavy Industry Park is located on Changxing island, Dalian in northeast China. 

The project expansion project will develop what the group described as a world-class offshore engineering equipment and high-end vessels production base. The new yard will focus on the construction of VLCCs, VLGCs, mega-containerships, FPSO, floating wind power equipment, and drilling platforms. 

Upon the completion of the full project, Hengli Heavy Industry expects to have annual shipbuilding capacity of 7.1 million tons and engine manufacture capability of 180 units. 

Since officially commenced operation last year, Hengli Heavy Industry has rapidly grew to one of the top ten shipbuilding yards worldwide in term of newly-received orders in the first half of this year. Hengli took over the defunct STX Dalian yard in the northeast Chinese city.

Hengli Group is now mulling spinning off its shipbuilding business with a public listing through an IPO on the Hong Stock Exchange. The listing plan is in its early stages.

About the Author

Katherine Si

China Correspondent

China-based Katherine Si has worked in the maritime industry since 2008 is well-connected with local industry players including Chinese owners and yards.

Having majored in English Katherine started at news portal ShippingChina.com where she rose to become a News Editor. In 2008 she moved to work with Seatrade and has since held numerous positions including China correspondent for Seatrade Maritime Review magazine.

With extensive experience in writing, research and social media promotion, Katherine focuses on the shipping and transport sectors.

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