China has started off advancing into offshore plant market, as Shanghai-based engineering company Wison Group's subsidiary Wison Offshore & Marine has recently signed EPCIC contract for the world-first floating liquefaction regasification & storage (FLRS) unit from Exmar of Belgium.
Chinese industries said that China opened the door to offshore industry and expected huge development in offshore facility and equipment related industries, citing China's Jiaolong having successfully completed 7,000-meter deep sea diving test and China's first deep-sea drilling platform CNOOC 981 having started off operation.
Also, Chinese government made 'Mid-to-long term development plan for offshore facility industry' and set up concrete goals.
A Chinese specialist said China's offshore related target and governmental support for M&A are outstanding. The government will lavish money to reach the goal.
According to China Association of the National Shipbuilding Industry (CANSI), in 2011, Chinese shipyards, including Shanghai Waigaoqiao Shipbuilding (SWS), Dalian Shipbuilding Industry Co (DSIC), COSCO Shipyard Group (Nantong), Yantai CIMC Raffles Offshore, Shanghai Shipyard, China Merchants Industry Holdings, etc., overall contracted 18 offshore vessels/units, totalling $5bn, accounting for 10% of global order.