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17 January 2022 The on-line newspaper devoted to the world of transports 22:47 GMT+1

December 27, 2021

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New Chinese company for the research and development of equipment and plant engineering for the offshore industry

It is owned by ten national companies in the sector shipping

Ten Chinese companies in the shipping sector have established China Ocean Engineering Equipment Technology Development Co. which will be active mainly in the sector research and development of equipment and plant engineering for the offshore industry with the aim of increasing competitiveness of China in this market.

China Ocean Engineering will have a share capital of 20 billion yuan ($3.1 billion), including $38 billion yuan contributed by the Chinese shipbuilding group China State Shipbuilding Corporation, which will hold 19% of the capital of the new company, and 18 billion from each of the others partners who will each own shares equal to 9% of the capital. The nine other shareholders of China Ocean Engineering are the group China COSCO Shipping Corporation, CIMC Offshore Engineering of China International Marine Containers Group (Group) Co. (CIMC), China National Oil and Energy Groups Petroleum Corporation (CNPC), China Petrochemical Corporation (Sinopec), China National Offshore Oil Corporation CNOOC), China Merchants Investment Development Co. (CMID) of China Group Merchants Group, la CRRC Group Co., la China Communications Construction Group (CCCG) and Shanghai State-owned Capital Investment Co. (SSCI).

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