The Shanghai shipyard, which has already ceased production, is once again in the spotlight, as China's best offshore construction yard will now, under the guidance of China Shipbuilding Group, join hands with Waigaoqiao Shipbuilding to handle the offshore production stopped at the yard, with four Tiger series drillships worth $1.6 billion surfacing again.
Waigaoqiao Shipbuilding Offshore Engineering Project Management Co.
In order to actively respond to and implement the requirements of China Shipbuilding Group for the disposal of offshore products related to Shanghai Shipyard and simultaneously promote the sustainable and steady development of Waigaoqiao Shipbuilding's offshore business, Shanghai Waigaoqiao Shipbuilding Offshore Engineering Project Management Co. (hereinafter referred to as "Project Company") was officially inaugurated in Shanghai Shipyard on February 5 after completing a series of legal procedures. Wang Qi, Secretary of the Party Committee and Chairman of the Board of Directors of Waigaoqiao Shipbuilding, Chen Gang, Deputy Secretary of the Party Committee and General Manager, Du Keshun, Secretary of the Party Committee and Vice Chairman of the Board of Directors of Shanghai Shipyard, and Jin Yu, Deputy General Manager, jointly inaugurated the project company.
Wang Qi congratulated the establishment of the project company and expressed his gratitude to the relevant units and departments of Shanghai Shipyard for their participation in the preparation and construction. Wang Qi pointed out that the establishment of the project company is an important strategic decision for Waigaoqiao Shipbuilding to actively implement the Group's instructions, build on its own development advantages and help the Group's offshore equipment business development, as well as the inherent need to continuously expand and strengthen the offshore industry under Waigaoqiao Shipbuilding's high-quality development strategy of "cruise leading and two wings". We hope that with the active cooperation of Shanghai Shipyard, the project company will plan the project carefully and organize the construction carefully, so that the project under construction can successfully complete all the planned nodes in an orderly manner.
Du Keshun congratulated the establishment of the project company and expressed his gratitude to Waigaoqiao Shipbuilding for its support and assistance in the reform and development of the company. Du Keshun pointed out that the establishment of the project company is the result of Shanghai Shipyard's implementation of the Group's instructions and instructions on the disposal of offshore products in Shanghai Shipyard, and has laid a solid foundation for the subsequent reform and development of the company. It is hoped that the establishment of the project company can quickly promote the disposal and construction of relevant offshore products.
It is understood that the project company will be wholly owned by Waigaoqiao Shipbuilding, implement operational control strategy, jointly undertake the construction and maintenance of relevant offshore equipment with Shanghai Shipyard, and promote the implementation of renewal tasks as planned to ensure that the relevant products reach the "hot maintenance" standard.
After the ceremony, Wang Qi and Chen Gang inspected the production site of related products and had a discussion with the backbone of the project team. Mr. Xiangde Xiang, Assistant General Manager of Waigaoqiao Shipbuilding, Mr. Yina Jiang, Secretary of the Board of Directors, as well as the relevant persons in charge of the Planning Department, Human Resources Department and Capital and Financial Management Department attended the event.
"Tiger series drillship changed the fate of Shanghai shipyard
In the 1980s, Shanghai Shipyard had started the export of ships and offshore engineering equipment in China's shipbuilding industry with "Shaoxing" and "Exploration III". A few years later, Shanghai Shipyard became one of the most important offshore production bases in China, with exploration vessels, triple-use workboats and drilling vessels becoming the company's beautiful business cards. However, since 2012, "transformation pains" in Shanghai shipyard concentrated manifestation, production quality is not good, delivery of ships repeatedly off schedule, a series of chain reaction led to serious losses.
Since 2011, Opus Offshore, the Singapore offshore group acquired by Huabin Group, has ordered four OPUSTIGER series drillships in Shanghai Shipyard one after another, and the total investment of these four drillships is about USD 1.6 billion. The four Tiger series drillships of Shanghai Shipyard are one of the first offshore projects independently developed, designed and built by China, and the first turnkey offshore project of CSG, among which Tiger 1 is the first intelligent drillship with fully independent intellectual property rights. It is equipped with the world's most advanced blowout preventer, subsea and well control systems, and can be used for exploration and production wells. The vessel is self-propelled, can be equipped with 150 crew members and is classed by American Bureau of Shipping (ABS).
According to international ship network, Tiger 1 (No. S6030) was named in Chongming Base of Shanghai Shipyard on November 8, 2014, and successfully completed its first voyage in the East China Sea in April 2015. On December 29, 2015, Tiger 1 successfully completed the 12-day second trial voyage. Since then, the drillship has been idle in Shanghai Shipyard.
According to the contract, the delivery of the Tiger 1 was scheduled for January 2015, and in 2017, the owner of the Tiger 1, OpusOffshore, went bankrupt, and the completed Tiger 1 was delivered to the shipyard. "Tiger 1" and the remaining 3 drillships under construction were withdrawn due to the failure to perform, which brought huge financial pressure to Shanghai Shipyard. Meanwhile, the Shanghai Shipyard, which was deeply in the red, shut down its shipbuilding business at the end of 2018. The four undelivered drillships and two auxiliary drilling barges are said to be the trigger for Shanghai Shipyard to end its shipbuilding business.
According to the source previously told the international ship network, the disposal plan of Shanghai Shipyard's marine wage production has not been determined, and the disposal method will probably follow the idea of Waigaoqiao Shipbuilding's disposal of marine wage production, that is, the four drillships and two auxiliary drilling barges will be removed from the group company's balance sheet. The parent company CSBC will take over ownership of the four Tiger drillships and will continue to sell the vessels withdrawn by Singapore's Opus Offshore.
The Tiger series drillship project was once considered a model of "Chinese creation" in China's shipbuilding and offshore engineering manufacturing industry and one of the symbols of Shanghai Shipyard's transformation and upgrading, but the ship also eventually brought down the Shanghai Shipyard and changed its fate.
On August 18, 2018, the last ship was launched from the shipyard's Chongming yard. Deeply in the red, Shanghai Shipyard shut down its shipbuilding business at the end of that year.
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