Guangdong CIMC Raffles builds another marine equipment base in Dongguan
2012-09-28 09:00
September 27, 2012 news: Recently, a 60,000 sqm industrial land plot in Dasheng Community, Machong, was transferred at its reserve price. The successful bidder is Guangdong COSCO Shipping Engineering Co., Ltd., a subsidiary of COSCO Group and a leading enterprise in Dongguan's shipbuilding industry. Company personnel revealed that this plot will be used to construct Dongguan's first offshore engineering base (marine engineering equipment manufacturing base), specifically for producing auxiliary vessels for oil and gas exploration, etc. Currently, the global shipbuilding industry is in an 'ice age' with sluggish demand for new ship orders, and domestic shipbuilding enterprises have also begun to shift their focus to marine engineering.
As early as 2007, COSCO Group invested 1 billion yuan to relocate Guangdong COSCO Shipping Engineering Co., Ltd. to Machong, building a 600-mu shipbuilding base. Machong Town government personnel revealed that this leading enterprise abandoned Guangzhou Huangpu and moved into Machong, directly leading the revival of Machong's shipbuilding industry. In the second year after COSCO moved in, the proportion of Dongguan's shipbuilding industry in Guangdong's total industrial output value jumped from 0.5% to over 10%.
However, after the financial crisis, Dongguan's shipbuilding industry faced challenges. Media reported that the global shipbuilding industry fell into an 'ice age.' In the first 7 months of this year, domestic new ship orders declined by over 50%, some small and medium-sized shipyards went bankrupt, and the shipbuilding industry was rumored to have been blacklisted for bank loans. Many shipbuilding enterprises in Dongguan are also worried about orders.
COSCO, on the other hand, made a 'turn' first, targeting marine engineering equipment manufacturing industry. It is understood that COSCO Group had previously invested 4.7 billion yuan to build a new offshore engineering base in Nantong, Jiangsu, to construct auxiliary equipment such as drilling and oil storage platforms and pipelaying vessels for offshore oil and gas exploration. Yesterday, the 60,000 sqm industrial land in Dasheng Community, Machong, was acquired by Guangdong COSCO Shipping at a reserve price of 30.2 million yuan. Company personnel revealed that this place will become Dongguan's first offshore engineering base.
This prospect is generally optimistic in the industry. In early September this year, Zhang Guangqin, President of China Association of the National Shipbuilding Industry, pointed out that new ship order demand is sluggish, and the domestic shipping market is sluggish, but the marine engineering equipment market is very active, with order values showing a tendency to surpass traditional ships. Currently, shipyards' production pace has slowed down, but product structure adjustment can be accelerated.
According to statistics, in the first half of this year, new global offshore engineering orders reached 28 billion US dollars, with strong demand. However, domestic enterprises are not heavily involved, with a global market share of about 5% to 7%. With the development of China's marine engineering industry, the global offshore engineering equipment manufacturing center is shifting to China, and China's global market share of offshore engineering equipment will continue to increase in the coming years. COSCO revealed that in the future, COSCO Shipping will increasingly rely on marine engineering. In current revenue, ship repair accounts for 20%, and shipbuilding and marine engineering each account for 40%. However, by the end of the '12th Five-Year Plan' period, marine engineering will account for 45% to 50%.
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