Amid a downturn in shipping and ship repair markets, China State Shipbuilding Corporation’s Chengxi Shipyard (Guangzhou) has tried turning into offshore segment and it is said to have already reached some level of achievement in the segment, backed by Guangdong Inspection and Quarantine Bureau.
CSSC Chengxi Shipyard, the largest ship repair yard in Huanan, China, has repaired around 240 vessels annually and 80% of which were ships for international routes, but started being affected by a downturn in shipping industry.
Accordingly, Guangdong Inspection and Quarantine Bureau has decided to support Chengxi to proceed in offshore segment after a research and examining session. As a result, the company started going forward winning works of repairs, maintenance and manufacturing facilities in offshore segment.
Meanwhile, Chengxi has created a lot of profits through a successful business transition since 2012 and recently, won $416m worth of an order to convert a VLCC to FPSO from SBM Offshore.