Chinese shipbuilding industries insist improvement in offshore segment in 2012.
Chief Adviser Zhao Zhiming of China Petroleum & Petrochemical Equipment Industry Association (CPEIA) said China's total production value of offshore facility construction during the first seven months of this year increased from last year and offshore energy development will sharply develop over the next five years, during a forum regarding Chinese offshore facility market.
He pointed out that China should be capable of basic design, equipment engineering and fabrication. He said that a total amount invested in R&D for offshore fabrication out of overall total profits is still very low.
He also insisted that Chinese shipyards should well adapt to changing market. Recently, global commercial ship segment is depressed, on the other hand, offshore platform segment is progressing at a rapid pace.