Orders for offshore rigs have dropped this year as have prices, according to the head of offshore for Cosco Shipyard Group.
Shi Wei, executive director of Cosco Shipyard Group, spoke with our sister site, Maritime CEO, on opportunities and challenges within the Chinese offshore sphere.
According to Shi, currently there are too many Chinese shipyards joining the competition for offshore orders. “Their expectations for the offshore market are too high, and some of them receive orders under special terms in order to improve their offshore performance,”