CSSC Offshore and Marine Engineering (COMEC) reported a net profit of CNY1.01 billion ($144 million) for the 2025 financial year, representing a 167.26 per cent increase compared to the previous year.
This performance was supported by the delivery of 39 vessels totalling 1.1153 million DWT, according to the company.
Revenue for the year rose 5.9 per cent to CNY21 billion during the period ending December 31, 2025. Management attributed the growth to batch construction advantages and improved production efficiency across its shipyards.
Global demand for new vessels moderated in 2025 as total new orders fell 23.58 per cent to 151.99 million DWT. The company noted that new ship prices remained high despite the decline in order volume due to limited global production capacity.
Orders for container ships rose 4.8 per cent in 2025, making them the only major vessel category to record growth during the year. In contrast, demand for bulk carriers and tankers fell by 30.4 per cent and 29.3 per cent respectively as owners adopted a more cautious approach, COMEC reported.
The group’s offshore engineering sector remained steady with orders totalling 109 vessels valued at $7.45 billion. COMEC said this accounted for 32.4 per cent of the global market share, placing China ahead of competitors in South Korea and the United Arab Emirates.