The China Association of the National Shipbuilding Industry (CANSI) has recently issued its realigned standard form for Shipbuilding Contract (English version) as reference for ship transaction activities. The new contract is flexible in originality and feasibility for the users to enforce modification and improvement in specific circumstances.

In recent years, Chinese shipbuilding market has massively grown and a number of new shipyard and ship trading enterprises emerged. This condition makes it urgent to have a more reliable and practical form of shipbuilding contracts to guarantee the shipowners’ and shipyards’ rights and obligations.

China's two major state-owned shipbuilding groups (CSSC and CSIC) and most of private shipbuilders have both employed the new contract in their business. The new contract has learned from the other shipbuilding contract of Europe, Japan, Korea and America in terms and provisions. Most importantly, it is based on the practical conditions of Chinese shipbuilding market and has been tested and perfected in the last 30 years in the fluctuant newbuilding market in China. Most Chinese shipowners and shipyard have acknowledged the new contract.

However, in order to adjust to worldwide shipbuilding industry changes, CANSI will continuously improve the form in accordance with new industry regulations, policies and other situations.