China has issued its first batch of so-called ‘white list’ offshore shipyards, of which seven that made it are all state-owned companies.
The latest list of offshore shipyards, announced by the ministry of industry and information technology, is similar to the ‘white list’ of conventional shipyards, which can expect to receive preferential access to domestic bank loans and support.
The brief statement by the ministry did not spell out exactly what are the benefits for the listed offshore shipyards, only mentioning that they met the standards required by a judging panel put together by China International Engineering Consulting Corp (CIECC) and China Classification Society (CCS).
The ministry said earlier that the initiative will serve to encourage the offshore yards to come up with their own inhouse design team, make technological progress and innovation, improve on project management, and promote industry consolidation.
In a statement issued earlier this year, the government said the listed offshore yard will need to make an annual investment of at least 2% of their yearly revenue into design and technology.
Chinese offshore shipyards are known to be lagging behind their western counterparts due mainly to the former’s poorer quality in terms of design and finishings.
In July this year, the ministry invited offshore shipyards to submit their applications for reviews on drawing up the list.
The seven listed offshore shipyards are Yantai CIMC Raffles, Shanghai Zhenhua Heavy Industries Company (ZPMC), Cosco (Qidong) Shipyard, Shanghai Waigaoqiao Shipbuilding (SWS), China Merchants Heavy Industry (Shenzhen), Dalian Shipbuilding Industry Offshore, and Cosco Shipyard.
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