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“With inside maritime information”

Korea, Japan and China

What is happening and where do they go?


How to maintain / increase our market shares?

Harald Nævdal, IN Seoul


GCE Blue Maritime, Monday Jan 26, 2015
Foto: CC by DVIDSHUB
Scope of Work Brazil
1. How is the major China
High-End markets for Germany
Advanced offshore
vessels and rigs Japan
evolving? Netherlands

2. Are our competitors South Korea


closing the gap? Singapore
Turkey
North East Asia – Important?

«China, S.Korea
and Japan
account for 20
percent of the
global gross
domestic
product, 17.5
percent of all
global trade and
22 percent of the
global
population»

Source: Wikipedia, Yonhap


SOUTH
KOREA
Norway – Korea

• Second largest trading partner in North East Asia


• Norwegian export NOK 15,6 billion (2013) of which 68 % machinery
equipment mainly maritime
• Seafood NOK 684 mill . Market share of 90 % fresh salmon and
30 % of mackerel
• Various manufactured goods NOK 1,3 billion
• Norwegian import NOK 9,5 bill of which 94 % machinery and transport
equipment , mainly cars
• Free Trade agreement EFTA and Korea from 2006. No problems

Photo: Medistim. Used with permission

16
ROK Economy

Source: Wikipedia
South Korea Maritime Market Info

Shipping

• The 5th largest merchant fleets Others


• 1,576 vessels, 75 mil.GT, 4,65% of the world 11 %
• Ref. Norway 1,908 vessels, 45,9 mil GT, 2,85% of the world Container Bulk
14 %
Shipping 39 %
• No infrastructure for A.O.V.
Fleet
• One rig owner (KNOC)
2013
• Poor link to local shipbuilding Tanker
due to mismatch of preferred ship-type & size 36 %

Shipbuilding

• The 2nd largest shipbuilding Others


• 407 new order (18,3 mil. CGT) 21 % Continer
• 301 delivery (12,5 mil. CGT) 30 %
• 877 order book (34,9 mil CGT) Drillship Order
6% Book
• Diversified into offshore by the Big Three 2013
• SME Yards under restructuring LNGC
21 % Tanker
• A.O.V. Niche product with less priority 22 %
(8 ships under construction)

7
Matrix on deliveries & order book
Deliveries/
South Korea Deliveries Order book
Orderbook
Yard Year 2010 2011 2012 2013 2014 2015 2016 2017~
AHTS DSV, MOCV, AV HCV
MPSV 3 1
WIS/MOU
Hyundai SSR 1 2 3 11 4 4 4
FPxx 1 3 1 3
Seismic/research
Others
AHTS WTIV WTIV
MPSV 2 1
WIS/MOU
Samsung SSR 6 10 5 7 13 6 4 2
FPxx 3 1 2 2 1+2
Seismic/research Jack-up Jack-up

Others 1 1
AHTS WTIV PLV PLV
MPSV 2 1 2
WIS/MOU
DSME SSR 3 3 3 2 5 8 5 3
FPxx 1 1 1 2 1 Jack-up
Seismic/research 10 Naval

Others SPP 2 9
AHTS STX 1
MPSV STX STX 1 5
WIS/MOU 1 1 Posco Plantec,
Others Hyundai Mipo
SSR
FPxx 1 1 LNG
Bunkering
Seismic/research Sungdong STX Hanjin Vessels 8
Others 2
Drillships produced in Korea

Ship type Shipyard Unit name Unit Ship owner/Operator Delivery Design/engineering suppliers Remarks


Drillship Samsung Ocean Rig Drillship TBN 2  1 Dryships Inc (Ocean Rig) 2017 Q2 n/a ‐
Drillship Samsung Ocean Rig Drillship TBN 1 1 Dryships Inc (Ocean Rig) 2017 Q1 n/a ‐
Drillship Samsung Ocean Rig Santorini 1 Dryships Inc (Ocean Rig) 2016 Q2 SAIPEM 10000 ‐
Drillship Samsung Ocean Rig Apollo 1 Dryships Inc (Ocean Rig) 2015 Q1 SAIPEM 10000 ‐
Drillship DSME  Cobalt Explorer 1 Vantage Drilling (Sonangol) 2015 Q3 DSME e‐SMART ‐
Drillship DSME  Palladium Explorer 1 Vantage Drilling (Sonangol) 2015 Q4 DSME e‐SMART ‐
Drillship DSME Deepwater Conqueror 1 Transocean Inc 2016 Q4 DSME 12000 ‐
Drillship DSME Deepwater Poseidon 1 Transocean Inc 2017 Q2 DSME 12000 ‐
Drillship DSME Deepwater Pontus 1 Transocean Inc 2016 Q1 DSME 12000 ‐
Drillship DSME Deepwater Proteus 1 Transocean Inc 2016 Q2 DSME 12000 ‐
Drillship DSME Deepwater Thalassa 1 Transocean Inc 2016 Q1 DSME 12000 ‐
Drillship Samsung West Dorado 1 Seadrill Ltd 2015 Samsung 12000 ‐
Drillship Samsung West Draco 1 Seadrill Ltd 2015 Samsung 12000 ‐
Drillship DSME West Libra 1 Seadrill Ltd 2015 DSME 12000 ‐
Drillship DSME West Aquila 1 Seadrill Ltd 2015 DSME 12000 ‐
Drillship Samsung West Carina 1 Seadrill Ltd 2014 Q4 Samsung 12000  ‐
Drillship Samsung West Jupiter 1 Seadrill Ltd 2015 Q3 Samsung 12000 ‐
Drillship DSME Atwood Archer 1 Atwood Oceanics 2015 Q4 DSME 12000 ‐
Drillship DSME Atwood Admiral 1 Atwood Oceanics 2015 Q1 DSME 12000 ‐
Drillship Samsung ENSCO DS‐8 1 Ensco Plc. 2014 Q3 Samsung GF12000 ‐
Drillship Samsung ENSCO DS‐9 1 Ensco Plc. 2014 Q4 Samsung GF12000 ‐
Drillship Samsung ENSCO DS‐10 1 Ensco Plc. 2015 Q3 Samsung GF12000 ‐
Drillship Samsung Pacific Zonda 1 Pacific Drilling Limited 2015 Q3 Samsung 12000 Double Hull ‐
Drillship Samsung Pacific Meltem 1 Pacific Drilling Limited 2014 Q3 Samsung 12000 Double Hull ‐
Drillship Samsung Brava Star 1 Queiroz Galvao Perfuracioes 2014 Q4 Samsung 12000 Double Hull ‐
Drillship Hyundai Rowan Relentless 1 Rowan 2015 Q1 Gusto MSC P10,000 ‐
Drillship Hyundai Rowan Reliance 1 Rowan 2014 Q4 Gusto MSC P10,000 ‐
Drillship Hyundai Ocean BlackLion 1 Diamond Offshore Drilling 2014 Q4 Gusto MSC P10,000 ‐
Drillship Hyundai Ocean BlackRhino 1 Diamond Offshore Drilling 2014 Q4 Gusto MSC P10,000 ‐
Drillship Hyundai Noble Tom Madden 1 Noble Drilling  2014 Q4 Gusto MSC P10,000 ‐
Drillship Samsung Deepwater Advanced 4 1 Maersk Drilling 2014 Samsung 96K Drillship ‐
Drillship Samsung Maersk Venturer 1 Maersk Drilling 2014 Samsung 96K Drillship ‐
9
Advanced offshore vessels

10
Trend & Strategy

• Weak earning trend in general


• SME yards under restructuring
• Big Three turned eyes to offshore business
• Offshore projects have revealed high losses (EPCIC/NORSOK/Engineering)

• Strong Edge: UL containership and L. LNGC


• Go Arctic: Arctic shuttle tanker, arctic drillship, arctic LNGC
• LNG Focus: LNG (ship to ship) bunkering vessel, LNG fuelled drillship, VLEC
• Green Ship Wave: Innovative eco solutions

• Pursuing policy as a core industry


• Priority for deep-sea floaters/drillship/SSR/FPxx
• Whole LNG value chain
• Less priority on AOV
• Strategic partnership with international engineering companies

• NORSOK advantage and benefit


• Fewer projects with NORSOK standard in the future?
• Local biz establishment for long term collaboration in Korea?

11
Market & Forecast

Korea’s shipbuilding industry, which were in recession last year, will go


through another difficult year in 2015, due to low order books caused by
fewer offshore projects and low oil price.

Market Management

Year 2014: Year 2014:

• Continued weak shipbuilding demand • Weak earning in general


• Recession of new offshore projects • Significant losses on offshore projects
• Fewer new order for both shipbuilding • Delays on offshore project (delivery)
and offshore • Organizational restructuring
• Reinforce Engineering capability
• Developing local offshore equipment and
Year 2015: designs?

• Weak global market Year 2015:


• Decreased volume of new orders
• Small increase in deep ocean • Focus on cost savings
shipbuilding • Improved calculation of P&L for new
• Production and deliveries according to offshore projects (avoid loosing money)
order book • Stronger Engineering focus
• Less investment in eco-ship development • Investments in offshore engineering/R&D

12
Norwegian maritime equipment

Strong competitiveness on engineering and design capability for


overall oil and gas development and core offshore equipment.

NOR

13
Relevant shipyards
Orderbook as of July 2014

SUM Drill Ship SSR Platform Topside FPxx LNG FPSO Jack-up AOV Others
Korea
LNG FSRU rig
Shipyard
91+2 32 9 9 4 8 6 3 8 12

Hyundai 23 5 2 8 1 2 1 4
Samsung 28+2 16 2 1 3+1 3+1 2 1
DSME 34 11 4 1 2 1 2 1 2 10
H. Samho 2 1 1
H. Mipo (4) (4)
STX 1+(3) (2) 1 (1)
Sungdong (1) (1)
SPP 1 1
Hanjin 2 2

Noway SUM Drill Ship SSR Platform Topside FPxx LNG FPSO Jack-up AOV Others
Owner LNG FSRU rig
Projects 23 6 6 1 4 1 1 2 1 1

Statoil 7 1 3 1 2
Songa Offshore 4 4
Seadrill 7 6 1
Fred Olsen E. 1 1
Hoegh LNG 1 1
Total E&P Norge 1 1
Edda A. 1 1
The Royal Navy 1 1 14
Relevant shipowners

• A rig owner in Korea


• Ownership Dana Petroleum
• Plan to build a jointly owned
UDW drillship in the future
• Small Gas production in the East Sea
• KNOC+Woodside found offshore gas field in the East Sea and plan for deepsea drilling at the field

• A sole LNG importer and distributor


• Operating 4 large LNG receiving terminals in Korea
• Have ordered total 21+6 LNGCs
• New 6 LNGCs for US Sabine Pass LNG Project last year (DSME 4 & Samsung 2 ships)
• Owns LNG cargo containment technology (KC-1 LNG CCS) .
• International natural gas development projects (Prelude FLNG)

15
Engineering companies

• Martin Linge Topside (Samsung) • PFLNG-2 (Samsung)


• Aasta Hansteen Spar (Hyundai)
• Ichthys FPSO (DSME)
• PFLNG-1 (DSME) • Nasr Oil Field Platforms (Hyundai)
• Prelude FLNG (Samsung)

• Bouri Gaza FSO (STX)


• Ichthys CPF (Samsung)

• Valemon Topside (Samsung)


• Egina FPSO (Samsung)

• Donghae-1 Natural Gas Production


• Gina Krog Topside (DSME) Facilities (Hyundai)
• Bergading Complex (Hyundai)

• HYDROCABON UPSTREAM
• Mariner Topside (DSME) (Samsung Egina project)
• Aasta Hansteen Topside (Hyundai)

• A JV with Samsung in Houston


• Gina Krog LQ (DSME) • FEED and detailed design
• Martin Linge LQ (Samsung)
• FEED and FEED verification
• Located in Houston
• Mariner Drilling Module (DSME)

• Upper Zakum Production


Modules (DSME)
16
Design companies

• VS 4725 DSV (Hyundai) • SALT AV (Hyundai)


• VS 4285 HCV (Hyundai)
• VS 4146 PLV (DSME)
• UT 776 CD PSV (Hyundai Mipo)
• MOSS 919 AHTS (SPP)
• CS-60 SSR (Samsung)
• CS-60E SSR (Hyundai) • WTIV (Samsung) PLV (STX)

• P10,000 drillship (Hyundai) • LSV (DSME)


• G14000X WTIV (Samsung) • MARS Tanker (DSME)

• GVA 4000NCS SSR (DSME) • GF12000 drillship

• Saipem 10000 drillship (Samsung)


• DSME e-SMART drillship
• DSME 9000 semi rig
• 1000 FPSO (Hyundai)

• HD12000 drillship
• X Bow MOCV (Hyundai)

17
Norwegian Offshore Projects
Green cooperation
MOUs for green shipping and Shipbuilding & Offshore Seminar Greenship Seminar
shipbuilding (Sept., 2012, Oslo) (Jan., 2013, Oslo) (April, 2014, Seoul)

Maritime Transport Meeting


& Seminar (Oct., 2013, Busan)

Maritime Transport Meeting


(Nov. 2014, Oslo)
19
Local supply of offshore equipment

10 %
Equipment 25 %
30 %
Localization (%)
Status
Shipbuilding Drill Ship FPSO Platform

85 %

Local Equipment Development tatus

Type Applied (Track Record) Developed but not applied yet Not developed

Life Boat, H/V Transformer, DPS, Thruster,


AL. Helideck,
Drillship SCR, Fresh Water Generator, Electric Propulsion System,
Soft Sealant (BELLE RISER)
Flame Proof Lighting Bulk Tank, Air Compressor

Transformer, Switchboard, IAS,


UPS, MCT,
Pump, Chemical Injection PKG, Flare Tip, Electric Heater,
FPSO Value, Thruster,
Fitting/Flange (DSS/SDSS) Special Pump, Control Valve,
CCTV
Telecommunications System

Flare Tip, Electric Heater, Hose


Pressure Vessel, Air Compressor, N2 Compressor,
Loading System, Power System,
Platform Heat Exchanger, Crane, Electrochemical
Control System, Special Pump,
Pump, Cooler Disinfection System
F&G System 20
Potential Offshore Projects in 2015

Project Field Operator Facility


Johan Sverdrup Noth Sea Statoil Platfroms (Norsok)
Ubon project Thailand Chevron CPF
Ubon project Thailand Chevron FSO
Bonga Southwest‐Aparo Nigeria Shell FPSO
Levianthan Israel Noble Energy FLNG
Abadi FLNG #1(2.5MTPA) Indonesia INPEX FLNG
Chissonga Block 16 Angola Maersk TLWP (Tension Led Wellhead Platform)
Thailand Block B (COT) Thailand Chevron FSO
Mozambique Area4 (Coral South) Mozambique ENI 3 FLNGs
Browse Australia Woodside FLNG
Bonaparte Australia GDF Suez FLNG
Scarborough Australia ExxonMobil FLNG
NSCV n/a Heerema New Semi‐Crane Vessel
Cluzean UK North Sea MODEC FSO (Norsok)

21
Conclusion & Recommendation

Korea secures advanced shipbuilding infrastructures with relevant technology


but offshore has lots of area developing further with international partners.

Closer Cooperation How to

• Detailed topside engineering • Proactive localization strategy

• Topside safety & risk assessment • Overcome language & cultural barrier
• Be more flexible and realistic
• Core offshore equipment & system for long term business partnership
• Ship Design Package for A.O.V.

Everything in Korea is about relations!


22
23
Position yourself to be a long term business partner

Further contact:

Mr. Doo Seok KIM


Senior Market Adviser
Innovation Norway Seoul

dooseok.kim@innovationnorway.no
JAPAN
Maritime Japan is coming back!

• 3rd largest economy, 2nd largest shipping


nation, 3rd largest ship builder.
• Strong commitment to the maritime
cluster.
• Consolidation within the yard industry,
international expansion. (Brazil, China ++)
• Strong companies. Ship owners, ship
yards, classification society with financial
muscles and ambitions.
• Technology driven, but lack of engineers,
naval architects, little direct offshore
experience.
• Attractive financing.
• Abenomics and government support.

26
Deliveries and order book

12 OSV/PSV for Swire Pacific

Deliveries/
Deliveries Orderbook
Orderbook

Yard
2010 2011 2012 2013 2014 2015 2016 2017
Name:

JMU AHTS 3 3 2 1 0 0 0 0
NSR AHTS 2 4
KHI WIS/MOU 1
Seismic/
MHI
research
1 1 2 1

MES Others 1
FPxx 1 1
IHI
Others 1 1 1 1
27
Relevant ship yards
JMU – Japan Marine United The largest builder of offshore vessels,
offshore is one of four segments.
Buying Norwegian Equipment today, welcome
Norwegian equipment makers. Active in Brazil

KHI – Kawasaki Heavy Industry Succeeded to have get the Island Offshore
order. Strong commitment. Slow?
Active in Brazil and China.

NSR – Niigata Shipyard & Repair Smaller yard, 100% owned by MES. Eager
within the offshore segment.

MHI – Mitsubishi Heavy Industry Strong group, orientation towards domestic


market Active in Brazil.

MES – Mitsui Engineering & Focusing on the FPSO/FLNG market. Wish to


Shipbuilding develop DPS technology

IHI Corporation (former Focusing on FLNG/FPSO. Active in Brazil


Ishikawajima-Harima Heavy
Industries) 28
Japanese Shipyard 2015 - 2018

Status
• Improved exchange rate has made life easier for the
yards, improved situation to compete with South Korea
and China
• LNG import from the US gives opportunity to build LNG-
carriers (JMU, MHI etc)
• Will be interesting to see how the Japanese yards will be
able to capitalize on their operations in China, Vietnam,
The Philippines and Brazil.
• Increased focus on green ship technology. Example is the
MIJAC – Maritime Innovation Japan Corporation initiative.

29
MIJAC (Maritime Innovation Japan Corporation)

• Dedicated to take the state of Japanese shipbuilding, shipping and


maritime technology up to a new level and make them known to the
world as Japanese technology
• Pursue R&D on new technologies to comply with energy conservation
regulations that also should apply to ships.
• Researches the efficient use of the ocean energy
• Provide consulting services of ship design like most advanced hull
form design and propulsion plant (achievements of MIJAC’s R&D)
• Carry out tank test and full scale Energy-Savings measurement in
actual sea condition

30
Green Shipping

• Ballast water treatment


• SOx control
• MHI/Chiyoda’s H2/CO2-FPSO?
• the H2/CO2 FPSO uses a new organic chemical hydride method to
convert hydrogen into highly stable methylcyclohexane (MCH), which
can be stored in liquid form at an ambient temperature and pressure

• Green ship technology is one of the topics of the


MOU between NFD – MLIT.
• IN Tokyo are planning a green ship technology
forum during autumn 2015.
31
Relevant ship owners

K-line • K-Line Offshore in Arendal


(Kawasaki Kisen Kaisha) • Part of consortium to operate ultra-deepwater drillship for
Petrobras
• Owner of SAL group which operates heavy lifting vessels
• Part of LNG FPSO projects.

MOL • Expanding offshore business, operations of FPSO, FSRU


(Mitsui OSK Lines)
• Shuttle tanker business – JV with Viken shipping

NYK Line • Active in most parts of the energy transport value chain.
(Nippon Yusen Kabushiki Kaisha) • Operation of deep sea research vessels, including Chikyu
• Operations of FPSO, FSO. Considers FSRU

JDC • Operates 4 jack-up rigs and 2 SSRs


(Japan Drilling Corporation)

32
Equipment manufacturers

- Strong portfolio of maritime equipment suppliers


- Ambitions to sell more to the offshore segment. Aiming
for «non-Norsok».
- Several companies are innovative and have strong R&D
focus. But little direct offshore experience.
- JSMEA* very eager to support the companies in
marketing and profiling

*JSMEA: Japan Ship Machinery & Equipment Association


33
Trends

• Offshore identified as a growth area by major


companies, the words are followed by action
• Looking for areas to better compete with South-
Korea and China (= more direct competition
with Norwegian yards?)
• Government drive to develop technology for
domestic offshore exploration

• Domestic market: Deep sea marine development,


exploration of minerals, methane hydrate etc.
• Global market: Opportunities in Asia, Africa, Brazil.

• Priority area of 3-4 yards, others are


following.
• 10 + vessels are under construction
• 7 + vessel with Norwegian design /
equipment packages 34
Feedback Norwegian Suppliers

Quality,
Quality,
What is quality?

(or why the high price?) 35


Advanced Offshore Vessels

Status
• Over the next two-three years, there are
several advanced offshore vessels being
completed in Japan, Island Offshore (KHI), ALP
Maritime (NSR) and PGS (MHI)

Future trends for building AOV in Japan


• Reputation gained from these projects will
influence the opportunities

36
Use the momentum
Work together
Strenghten your position

37
Use the momentum - Work together
Strengthen your position
Further contact:

Svend Haakon Kristensen


Director
Innovation Norway Tokyo

Svend.Haakon.Kristensen@innovationnorway.no
CHINA
Chinese Maritime & Offshore

World’s largest ship- and offshore building country Strong growth in offshore last decade

Large government Investment into Large number of offshore builders in Preference for domestic equipment:
offshore industry China Current localization rate: 10%
Source: Clarkson’s research, August 2014
Chinese Order book 2014
Chinese shipyards combined offshore order book August 2014: 601 units (44% of global orders)
Value share: 26%.
A leading position in several offshore segments, with the exception of offshore production units.

Source: Clarkson’s research, August 2014


Global orderbook:
Advanced Offshore vessels & Rigs

Builder AHTS >8000BHP Construction vessel


MSV/DSV/ROV Semi-Sub Rig Mobile Offshore
Survey
Total % of Value
Support & Drilllship Production
Country number Total ($ billion)

China 37 21 31 14 13 2 118 31 % 16,8


South Korea 3 4 2 47 14 70 18 % 51,5
Brazil 2 2 4 29 9 46 12 % 27,1
Norway 3 4 18 2 27 7% 3,2
Singapore 2 1 2 4 9 1 19 5% 4,4
United States 1 10 4 15 4% 1,0
Netherlands 9 3 2 14 4% 1,9
India 3 1 3 1 8 2% 0,5
Indonesia 4 4 8 2% 0,4
Russia 2 4 1 7 2% 0,5
Japan 1 1 2 3 7 2% 1,5
Germany 1 2 2 5 1% 0,8
Malaysia 4 1 5 1% 0,3
Spain 2 1 1 4 1% 0,2
Romania 3 1 4 1% 0,4
Finland 3 3 1% 1,4
Canada 3 3 1% 0,4
Turkey 2 1 3 1% 0,2
Croatia 2 1 3 1% 0,3
Poland 1 1 1 3 1% 0,1
Others 3 1 2 1 2 3 12 3% 2,7
Total 62 52 96 95 54 25 384 100 % 115,6
Source: Clarkson’s research, August 2014
42
Shanghai 1987
Shanghai 2013
China’s Energy Consumption by source

Coal is a problem:
• growing concerns with local pollution
• obvious limitations regarding utilization of coal for transportation

Source: BP’s Statistical Review of World Energy data


Oil Production & Consumption

Forecast

~14,5’’

~6’’

Source: Douglas Westwood


Deliveries & Orderbook - Major yards
Delivery/
Historical Deliveries (No.) Orderbook for Orderbook Delivery Schedule (No.)
Yard Name: Vessel Type
delivery '14
2010 2011 2012 2013 2014 2015 2016 2017
AHTS 0/2
Yantai CIMC Raffles SSR 2 3 1 0/1 2 4
FPxx 1x 1x 1x 1x 1x 1 1x
AHTS 4
Shanghai S.Y. SSR 0/2 2
Seismic/research 1 1 0/1
MPSV 2
COSCO Dalian SSR 0/1
1x
FPxx 2 1 1 0/1 1 2 1
AHTS 4
Shanghai Zhenhua
MPSV 3 4 2 2 2
MPSV 1 2/0
COSCO Nantong SSR 0/1
FPxx 1
AHTS 1 6 9 3/2
Sinopacific Zhejiang
MPSV 3 1 1 3/3 1
AHTS 1 1 3 1/1
Wuchang S.B. MPSV 2 3 1/0 2
Seismic/research 1
Huangpu Wenchong MPSV 0/1 3 5
AHTS 16 12 10 8 4/3 18 3
MPSV 12 10 15 7 4/15 12 4
Other SSR 1 4 1 1
FPxx 2x 1x 3/2 3 1
Seismic/research 1 1 1 1/0 1

AHTS 17 13 17 20 8/8 26 3
MPSV 15 19 22 8 10/19 20 11 2
Total SSR 2 4 5 1 0/5 4 5
FPxx 2 1 1 3/3 6 3 1
Seismic/research 1 2 1 2 1/1 1 Source:
Clarkson’s
research
Total all vessels 37 38 46 32 22/36 57 22 3 August 2014
Chinese Shipyards

• 1600 shipbuilding related companies

• 800 larger shipyards

• 71 yards producing offshore units and structures

• 34 yards producing advanced offshore vessels

• 18 yards producing MODUs

• 6 yards producing MOPUs

48
Offshore Shipyards in China
Important Chinese yards and owners

Shipyards: •Owners:
North China region: •COSCO Group:
• COSCO Dalian • COSCO Shipping
• COSCO Dalian
• Dalian Shipbuilding •CNOOC (China National Offshore Oil Cooperation)
• Yantai CIMC Raffles • COSL (China Offshore Structure Ltd.)
• COSL Norwegian
Shanghai region:
• CNOOC Tech.
• COSCO Nantong • COOEC
• Sinopacific Group •CCCC (China Communication Construction Company)

• Shanghai Waigaoqiao • Shanghai Zhenhua

Shipyard •(East Sunrise Group)


• ZPMC/Shanghai Zhenhua •(United Faith Group)
• Shanghai Shipyard •(China Rescue & Salvage)
Guangdong region:
• South Huangpu Wenchong
• COSCO Guangdong
50
NORSOK Compliant SSRs

Source: Clarkson’s research, August 2014


Design companies

Source: Clarkson’s research, August 2014


Engineering Companies

Source: Clarkson’s research, August 2014


Development next 3-5 years

Trend towards more advanced offshore structures Larger share of global


Deeper water, More complex, Harsher environment (NORSOK) offshore contracts
Longer distance, Higher BHPs

Environmental regulation Vessel automation, Increase in localization


fuel efficiency, bunker savings control system automation
functional integration
Source: Clarkson’s research, August 2014
Survey Findings: Shipyards & Owners

Reputation Expensive

Problem
R&D Solving

+ Quality &
Technology
Flexibility -
Response
Cooperation
Time

Valuable Difficult
Contributions Communication
How to increase market shares?

Cost
Local Cost/price?
production?

Employ local labor force Explore ways to reduce cost

Service? Respect &


Flexibility?

Explore ways to reduce costs


Be humble and adaptable
Offer good (after sales) services “Det er typisk Norsk å være god”
How to increase market shares?

Response?
e

Respond the same day to requests

Visits & Presence? Innovation?

Visit and schedule trips to


yards, owners and exhibitions New Technologies and R&D will be key
To be part of the rapid development you need
understanding of local demands
Further contact:

Ivar Haugen Moesman


Market Adviser
Innovation Norway Shanghai

Ivar.Haugen.Moesman@innovationnorway.no

Mobile +86 130 23 266 125


Market Conclusions

Use the momentum - Work together - Strenghten


your position

Position yourself to be a long term business partner

To be part of the rapid development you need


understanding of local demands
The common message

• The Norwegian Maritime Industry’s reputation is


more or less unchanged since 2008

• Financing as a sales argument is underestimated

• The importance of response times, relation building


and Total Quality are underestimated

• NORSOK and Norwegian design are gate keepers –


How long will it last?

• There is now a significant slowdown in the market


for rigs, drill ships and AOVs
Where to order the reports

http://www.innovasjonnorge.no/no/maritim