CIMC Raffles to build the world's most advanced platform-dismantling semi-submersible vessel

On November 18, Shandong Ocean Investment Co., Ltd.'s subsidiary, Shandong Ocean Engineering Equipment Co., Ltd.'s Shandong Shuangchuan Crane Co., Ltd. (SDTM) and Yantai CIMC Raffles ( Location   Comment   News   Recruitment signed a construction contract for the TML (twin-ship heavy-lift crane system) project. Wang Chaoying, director of the Shandong Provincial Office of National Defense Science, Technology and Industry, Yin Gang, deputy director of the Shandong Provincial State-owned Assets Supervision and Administration Commission, Bao Jianying, chairman of Shandong Haitou, and Wang Jianzhong, president of CIMC Raffles, attended the signing ceremony. Fan Chenghai, general manager of Shandong Haitou and chairman of Shandong Haigong, and Wang Jianzhong, president of CIMC Raffles, signed on behalf of both parties.

This is a new type of offshore platform dismantling project built based on the world's most advanced dismantling concept of "twin-ship lifting and three-ship collaborative operation." It is mainly used for the installation and dismantling of fixed offshore platforms and will operate in the UK North Sea after delivery. The TML project consists of three semi-submersible vessels ( ship type   shipyard   Sales equipped with DP3 positioning systems, cranes ( Product Library   Acquisition   Supply which can be flexibly combined for platforms of different sizes, with a maximum lifting capacity of 34,000 tons.

There are vast business opportunities in the global market for decommissioning platforms. Important offshore oil fields in the Gulf of Mexico, the North Sea, Southeast Asia, and Brazil have entered a period of intensive platform decommissioning. As a patented technology mainly used for the installation and dismantling of fixed offshore oil platforms, TML has advantages over traditional dismantling technologies in terms of safety, economy, efficiency, and wide applicability. In the next few decades, there will be a potential market of over 10 million metric tons globally, making decommissioning platforms a future trend in offshore engineering.

Shandong Haitou was established with the approval of the Shandong Provincial Government and is supervised by the Provincial State-owned Assets Supervision and Administration Commission. It is the first large state-owned enterprise in China to focus on the ocean economy investment field. It is positioned as the core investment and financing platform for the Shandong Peninsula Blue Economic Zone, the incubation and technology transformation platform for ocean science and technology achievements, and the ocean industry integration platform. Its main businesses involve modern marine transportation and logistics, offshore oil field services, financial investment, and inland river port and shipping investment and operation. Its subsidiary, Shandong Shipping Co., Ltd., has been listed on the New Third Board, and its fleet size ranks third in the country. Among them, LPG vessels ( ship type   shipyard   Sales fleet size ranks fourth globally and first domestically. Shandong Haigong is a holding subsidiary invested and established by Shandong Haitou, focusing on high-end marine engineering equipment. It currently wholly owns Northern Drilling Company in Houston, USA, and has established SDTM to implement and operate the TML project. During the downturn in the oil price market, Shandong Haigong and CIMC Raffles jointly targeted the widely optimistic decommissioning of offshore oil field platforms, forming a strong alliance to enter the offshore engineering decommissioning market.

Bao Jianying, chairman of Shandong Haitou, said: "TML is the cutting-edge technology and equipment in the current marine engineering field, containing advanced technological content and representing the future direction of the offshore engineering industry. CIMC Raffles has a good reputation and strong strength, possessing world-leading offshore engineering construction technology, an experienced and excellent team, and a strict and standardized quality control mechanism. The investment and construction of TML will help promote the transformation and upgrading of high-end equipment manufacturing in the shipbuilding industry, enhance the comprehensive competitiveness of our province's industrial economy, and create new advantages for blue economic development."

The TML project is another major achievement of CIMC Raffles' deep cultivation of the offshore engineering market, and it is also a new business area opened up by CIMC Raffles after consolidating its offshore drilling and support platform business, enriching product types and having milestone significance. Wang Jianzhong, president of CIMC Raffles, said: "Shandong Haitou and CIMC Raffles are both leading enterprises in Shandong's ocean economy field. The TML project is a forward-looking decision by Shandong Haitou, a fruitful achievement in the development of Shandong's ocean economy, and a new business card for Shandong's offshore engineering enterprises to enter the global market. We will do our utmost to adhere to the principle of 'integrity-based, customer-first,' and deliver on time and with quality using world-class offshore engineering construction standards."

CIMC Raffles, as a high-end offshore engineering EPC general contractor, continuously strengthens lean management, improves scientific research level, optimizes business capabilities, and is committed to providing customers with technologically advanced, safe, and high-quality marine engineering equipment and services, actively exploring new growth poles. Since this year, CIMC Raffles has successively delivered the first marine ranch platform, obtained orders for multiple luxury yachts ( ship type   shipyard   Sales and signed an operation contract with China Oilfield Services for the "CIMC Blue Whale No. 1," the world's most advanced ultra-deepwater twin-tower semi-submersible drilling platform ( ship type   shipyard   Sales )“中集蓝鲸一号”的作业合同。