Chinese Work to Kneecap US Rig Builders

BEIJING – Seven Chinese shipbuilders whose portfolios include rig construction have formed a new alliance to realize cost savings through sharing resources.

The alliance, called China Offshore (Deepsea) Industry Alliance, was formally set up in Beijing on Dec. 28, 2016.

The alliance members comprise 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, which are all members of the ‘White List’ that was launched by the Chinese government in November 2015.

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