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China CSSC Expects 99 Million-Yuan Profit Boost From London Arbitration Win

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China CSSC (SHA:600150) expects an increase of about 98.9 million yuan in its 2026 total profit after subsidiary Shanghai Waigaoqiao Shipbuilding prevailed in a London arbitration case initiated in June 2017 by shipowner ESSM1 over a jack-up drilling rig.

The tribunal dismissed all claims demanding the return of $18.1 million in advance payments plus interest, ruling that Waigaoqiao Shipbuilding is entitled to retain the prepayment, according to a Thursday filing with the Shanghai bourse.

Shares of the shipbuilder rose 2% in recent trade.

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