Greater ChinaOffshoreRegulatory

Jiaolong calls for government regulation on the offshore sector

Hamburg: China’s recently released guidance on offshore equipment industry may have given the struggling shipbuilders in the country a new hope for growth, however, Jiaolong Heavy Industries(JHI), a major player in China’s offshore engineering industry, has expressed its concerns.

“The guidance may have given some directions for development, but the actual favourable policies are mostly for state-owned companies, it’s hard for private companies like us to get a slice of the cake,” an official from JHI told Sinoship News at SMM, the top shipping event in Hamburg.

“The market is not well regulated now; lots of shipyards are just following the trend to get into the business, vicious competition is also one reason that affects the development of the industry. The same problems also exist in the heavy lift vessel industry,” the official added.  [05/09/12]

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