COSCO's twin stars shine in the 'ship valley'
2014-09-11 09:00
In Nantong, the world's "Ship Valley," two marine equipment manufacturing enterprises of COSCO Group shine like twin stars.
China's marine equipment manufacturing industry originated in military industry and only began to enter the commercial shipbuilding field on a large scale in the 1990s. Like many heavy industry sectors, China's entry quickly changed the global market landscape. For example, China's annual cement production exceeds 60% of the global total, and its steel production exceeds half of the world's total. China's shipbuilding industry has risen to the world's number one, with a 41.4% share of the global total completed tonnage in 2013, of which over 88% was exported. The later-starting ocean engineering equipment sector has already captured nearly 30% of the global market share, ranking second in the world.
Ocean-going vessels and marine engineering products are closely related. The industry believes that marine equipment other than tankers, bulk carriers, and container ships can all be called marine engineering products, including offshore drilling platforms ( ship types shipyards transactions )、 living platforms ( ship types shipyards transactions ，offshore wind power platforms, LNG, and many other categories. Among the large and small marine equipment manufacturers in China, COSCO Group stands out.
As China's largest and the world's second-largest shipping company, shipbuilding and marine engineering equipment manufacturing is not COSCO's main business, yet in just over a decade, it has made commendable progress. The excellent performance of its shipbuilding enterprises and the significant global impact of its marine engineering equipment are widely praised in the industry.
COSCO Shipbuilding and COSCO Shipping Heavy Industry are two second-tier companies under COSCO Group; the former focuses on marine engineering, and the latter on shipbuilding. Subsidiaries of these two companies are spread across coastal areas, with their best units located next to each other in Nantong, Jiangsu, China's "Ship Valley." Despite their close proximity, these two enterprises have significant differences in management, culture, and other aspects: Nantong COSCO Kawasaki ( Location Comments News ) is a Sino-Japanese joint venture that advocates lean management with rigorous and almost demanding processes; Nantong COSCO Shipping Heavy Industry ( Location Comments News Recruitment ) is a purely state-owned enterprise that implements project-based management with high flexibility.
Different paths, leading to common success. Both companies hold unshakeable positions in their respective fields, and can be considered the shining stars of China's marine equipment manufacturing industry.
Nantong COSCO Kawasaki has successively developed the 13386-TEU container ship ( ship types shipyards transactions ) and 7 other domestically-produced ships, filling many technological gaps. Its production efficiency, economic efficiency, and energy consumption levels are among the best in the country, its safety level is considered world-class, and its per capita profit ranks first in the world.
Nantong COSCO Shipping Heavy Industry completed the world's first cylindrical ultra-deepwater ocean drilling oil storage platform ( ship types shipyards transactions ), thus winning the only first-class National Science and Technology Progress Award in the marine equipment manufacturing industry, and consistently holding about half of the national overseas marine equipment orders. In 2013, Nantong COSCO Shipping Heavy Industry's operating revenue reached 8 billion yuan, ranking first among its peers nationwide.
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