Greater China

Chen Qiang: offshore and LNG are the future of China’s shipbuilding industry

Shanghai: On the 2012 Shipping Exchange Forum which was held in Shanghai yesterday, Chen Qiang,new chairman of Rongsheng Heavy Industries made a speech on the topic “Transformation of China’s Shipbuilding Industry”, his first public speech since he became the chairman of China’s largest private shipbuilder on the 26th of this month.

Chen said offshore and LNG projects are the future of China’s shipbuilding industry, the update of technology and the decrease of oil reserves have triggered the new Arctic oil era, and the increasing demand for related products will bring new opportunities for the shipbuilding industry.

“As the global demand for energy is still increasing, the market value of offshore equipment market will reach the level of US$320bn by 2020, and after 2012, deepwater projects might be the only sustained growth area,” Chen said.
Chen revealed that Rongsheng has targeted ice-strengthened tankers, ice-strengthened drillships, LNG-FPSOs, LNG-FSRUs and cruise as the next focuses of development.  [29/11/12]

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