China Takes the Lead in Jack-Up Construction

China Takes the Lead in Jack-Up Construction

China has secured top spot in construction of jack-up rigs by offering attractive financial packages to clients, data from UK-based research group Douglas-Westwood shows.

The previous leader in the category, Singapore, was pushed to the second place with 33% share in global orderbook, 14 pct lower than China (47%).

The group said Singapore is not likely to retreat from the market, but has, instead, focused on higher value EPC contracts such as Keppel’s ‘CAN DO’ drillship project.

Between 2000 and 2010 Singapore held the leading position in construction of jack-ups, nevertheless, in the last five years China’s shipbuilders have proven themselves as fierce competition.

South Korea big trio, Samsung, Hyundai and DSME, have been sailing in some troubled waters over the recent period. As the trend is likely to continue,Douglas-Westwood claims that a shift away from heavy construction seems likely.

World Maritime News Staff

 

Related news

List of related news articles