Report: Cosco to close down three offshore shipyards?

Chinese shipbuilder Cosco Shipping Heavy Industry is reportedly closing down three shipyards as part of its efforts to cut overcapacity. 

According to a Saturday report by China Daily, China’s English-language newspaper, the company is planning to shut down three of its five shipyards, which are able to manufacture offshore engineering products, by 2020 as its sees no notable upturn in the global market any time soon.

The plan entails for the Nantong, Zhoushan, and Dongguan shipyards to be shut down while the manufacturing bases in Qidong and Dalian will be kept open as they are capable of building high-end offshore engineering products like polar vessels and drilling platforms, the news report further elaborated.

A few months ago, China Cosco Shipping Group integrated its shipbuilding assets into one unit, Cosco Shipping Heavy Industry, and launched it in a ceremony held in Shanghai in December 2016.

Also by the end of 2020, the Shanghai-based company reportedly plans to halve the delivery capacity of its offshore engineering products from 18 to 9 due to lower demand in the last three years.

Offshore Energy Today Staff

Share this article

Follow Offshore Energy Today

Events>

<< May 2019 >>
MTWTFSS
29 30 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2

08th OIL & GAS AFRICA 2019 CONFERENCE

OIL & GAS AFRICA is one of the most prime regional & international Oil and Gas conferences in East Africa…

read more >

FPSO Brazil Congress 2019

Charging ahead with 24 planned orders by 2022, Brazil has once again solidified its status as one of the world’s foremost oil and gas leaders…

read more >

OWI WA 2019

West Africa’s only dedicated Offshore Well Intervention Conference is returning for its second year…

read more >

OIL & GAS PHILIPPINES 2019

Oil & Gas Philippines event display products like Oil & gas, fire protection systems and materials…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply