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China, No.2 in offshore
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Source:Asiasis

China is said to come in the world’s second position, already having beat Singapore as it is fighting well in global offshore market.

According to a Chinese stock firm (aastocks.com), Ma Yande, head of Marine Research Institute of Dalian Shipbuilding Industry (DSIC), said on December 5 that global new orders for offshore facility reached $33.1bn in this year to August, of which Korea, China and Singapore account for 47%, 25% and 16% of market share, respectively.

Mr. Ma said that Korea still dominates an advantageous position in offshore facility sector however China’s market share keeps growing, surpassing Singapore already.

Over these three countries, Mr. Ma said that Korea repeats overall development mainly in high-value added sector and Singapore has entered a phase of decreasing new orders, not being able to secure jack-up drilling platform sector while China is fighting well in the jack-up area, starting to show a trend of skyrocketing orders.

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