Zhang Guangqin, president of the Chinese National Association of Industry Naval, said the offshore

Backed by accumulated technical know-how, lower production costs and strong government desire to secure more oil at sea, Chinese shipbuilders are launching a strong challenge to its rivals container sizes on the side.
Zhang Guangqin, president of the Chinese National Association of Industry Naval, said the offshore engineering equipment such as drilling rigs, wind power equipment, ships with maritime cranes and dredges are more expensive and complex to build the world's growing demand for energy resources is expected that orders keep flowing.
Offshore oil and gas companies use these vessels to process natural gas and oil pumped up from the ocean floor. In some cases, they are also used in the extraction process.
COSCO (Nantong) Shipyard Co, a unit of COSCO Shipyard Group Co Ltd, which is a subsidiary of China Ocean Shipping (Group) Co, is one of Chinese container sizes shipbuilders has changed container sizes its core business of ship maintenance and send to offshore product engineering .
In contrast, the company invested over 200 million yuan (32.5 million US dollars) a year to attract foreign professionals and increase the technological and innovative expertise in offshore engineering.
Ni Tao, director of COSCO (Nantong) Shipyard, said China will take the crown of South Korea in the next five years, with this dramatic change occurring faster than expected global leader.
"As China and the future of energy in many nations depend on deepwater oil and gas, the industry will have to face a slowdown in the coming decades. Deepwater fields yet to be discovered and developed should be the main sources of conventional energy "said Ni.
International Maritime Associates Inc, a consulting firm based in Washington, which specializes in strategic planning for companies in the offshore industry, estimated oil reserves in the world ocean are between 140 billion and 200 billion metric container sizes tons. About 109 oil and gas projects are being planned in an investment of 189,000 million dollars over the next five years.
COSCO (Nantong) Shipyard will deliver eight offshore engineering products, including wind turbine installation vessels, jack-up rigs and floating oil drilling to Norway, Great Britain, the Netherlands and Denmark this year
To further diversify its business scale, Ni said the company will cooperate with China Export Credit Insurance Corp and to build a semi-submersible oil drilling rig for hire at a daily rental fee of $ 500,000. Some energy companies are still struggling to gain finance have such a vessel outright.
Offshore engineering products from China reached $ 18 billion in 2013, an increase of 16 percent year-on-year and accounting for 29.5 percent of the global market, container sizes according to the Ministry of Industry and Information container sizes Technology data .
A decline participation in the Singapore container sizes global market to 23 per cent last year, was the first time China overtook its competitor in Southeast Asia. South Korea was still on top, with 42 percent of the global market.
According to Cansi, more than 55 Chinese shipyards began producing different types of marine engineering vessels or equipment, low-end offshore container sizes support vessels US $ 600 million oil platforms, both domestic and international buyers, including China National Offshore Oil Corp, China Huaneng Group, Exxon Mobil Corp. and Royal Dutch Shell Plc.
Sinopacific Offshore and Engineering container sizes Co, another manufacturer of marine products container sizes based in Qidong, secured two orders in the three months to build liquefied ethylene gas carriers for two Norwegian companies ocean Income and Odfjell ASA Gas shipowning AS. Three of the ships have a capacity of 36,000 cubic meters, and four have a capacity of 22,000 cubic meters. They are scheduled for delivery between 2016 and 2017, respectively.
Sinopacific also signed a subcontract with Hyundai Heavy Industries Co South Korea earlier this year for the production of modules for the Moho Nord field project developed by Total SA, a French oil and gas company in the Republic of Congo. container sizes
Liang Xiaolei, chairman of Sinopacific, said China has abundant offshore oil reserves, the domestic market orders will rise and Chinese energy companies will be more inclined to place orders from domestic players such as product container sizes price, maintenance costs and after-sales service are cheaper than foreign companies from South Korea and others.
Chinese shipyards ask 12