Promising Future for China’s Marine Engineering Market

As for the current industrial layout of the international marine engineering equipment, in terms of the general contracting and design, at present, the large marine engineering companies and design companies from the US, Norway, France, Australia etc., still occupy the leading position; in terms of total construction capability, by virtue of their own advantages in shipbuilding and ship repair, South Korea and Singapore have occupied large market shares in the jack-up platform, semi-submersible platform, drilling ship, floating production system and other mainstream marine engineering equipment fields; Brazil, Russia and other countries with rich resources begin to cultivate their own marine engineering equipment building enterprises, becoming the new competitors of the world marine engineering equipment.

As of 2012, China had more than 20 marine engineering equipment manufacturing enterprises, mainly centralizing in the Bohai Rim, Yangtze River Delta and Pearl River Delta as well as focusing on shipbuilding and ship repair companies. Among these manufacturers, the following enterprises belong to the first echelon, which mainly engage in the construction of drilling platforms and floating production systems, such as Yantai CIMC Raffles Offshore Limited, Dalian Shipbuilding Industry Co., Ltd., and Shanghai Zhenhua Heavy Industries Co., Ltd., Shanghai Waigaoqiao Shipbuilding Co., Ltd., COSCO Shipyard Group Co. Ltd., China Merchants Heavy Industry (Shenzhen) Co., Ltd. as well as Qingdao Beihai Shipbuilding Heavy Industry Co., Ltd., Shanghai Shipyard Co., Ltd. and so on.

In 2012, the domestic marine engineering equipment industry totally received the main marine engineering equipment orders of 31 units, with the total amount of about USD 4.6 billion; the total amount of order basically kept unchanged compared with USD 4.67 billion in 2011. In terms of the equipment type, the industry totally received the orders, including 13 units of jack-up drilling platforms, one unit of semi-submersible platform, 2 units of drilling ships and 4 units of FPSOs. In addition, the industry also received the orders of 5 units of drilling auxiliary platforms and one unit of FLRSU. In terms of the marine engineering ship, Chinese shipyards totally undertook the orders of 84 units of marine engineering ship, ranking the first of the world marine engineering shipbuilding market; the orders were mainly classified into the platform supply vessel and AHTS (anchor, handling, tug and supply) vessel by the category.

According to the long-term plan 2015 of China’s offshore petroleum, China still needs to increase the offshore petroleum output of 50 million tons. In the next five years, China will have more than 30 oil fields to be developed, more than 70 platforms to be built and 4 terrestrial terminals as well as more than 1 km of subsea pipelines to be laid; the total investment amount will increase by CNY tens of billions every year, so China’s marine engineering equipment market has promising prospect.

Press Release, December 30, 2013


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