China starts to take on Korea’s giant offshore specialists

CHINESE shipyards are entering the drillship and oil production ship market, dominated by the big three South Korean yards. In 2007, Cosco Dalian secured a US$950m order from Chinese company Dalian Deepwater and has the hull of a defunct drillship project for bankrupt company MPF.

STX Offshore & Shipbuilding’s Dalian shipyard is also building the hull and deck for two US$550m drillships for Switzerland-registered Noble.
These ships will be outfitted in the Netherlands.
China has also experienced limited success in the market for...

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