SINOPACIFIC achieves vibrant growth against 5 years’ Financial Crisis - Dayang inaugurates Haitong construction base

12 March 2014

Images by Sinopacific Ship Building Group

On March 12th 2014, Yangzhou Dayang Shipbuilding Co., Ltd. (Dayang) held an inauguration ceremony in Nantong, Jiangsu Province for its Haitong construction base. At the same time, the kick off ceremony for the first CROWN63 bulk carrier to be built at this new site was held. This CROWN63 will be the first ship to be constructed by Dayang within this strategic agreement.

In late January 2014, Dayang signed a strategic cooperation agreement with Haitong Marine Engineering Equipment Co., Ltd. (Haitong), for the rental of facilities and equipment to create an additional shipbuilding line to expand Dayang’s capacities. In this way, Dayang can consolidate the facilities and resources of both yards so as to improve the quality and speed of construction under modern process methods.

Five years on from the onset of the world financial crisis, difficult conditions still prevail in many economic sectors and the global shipping market is still undergoing a slack recovery. Many shipbuilding corporations have been forced to suspend or stop production or several have gone into bankruptcy, Dayang, driven by the clear strategy of its parent company, Sinopacific Shipbuilding Group (SINOPACIFIC), has moved forward successfully with numerous additional orders.

“Our business and technical teams cooperate well with each other, which enables us, as a company, to plan ahead for our product developments;” commented Mr. Simon Liang, Chairman & CEO of SINOPACIFIC. “The smooth cooperation between both the technical and the manufacturing teams has laid solid foundations for high-quality shipbuilding. The number of CROWN63 vessels ordered stands at almost 100 ships today (current fleet and order book combined), proving that our chosen direction was correct.” Mr. Liang said that SINOPACIFIC has always adhered to its initiatives for strategic, technology driven planning whilst being a dynamic player in the industry restructuration, “We would continue to develop our independent design and to improve the performance of the CROWN bulk carrier series, thus maintaining SINOPACIFIC’s leadership in the industry.”

Dayang and Haitong have built up a strong relationship together through the ups and downs in the shipping market. Haitong first started to build blocks for Dayang in 2007, but also has its own dry dock facility measuring 380m x 50m as well two gantry cranes (900 tons and 300 tons), which fit with Dayang’s major building requirements. In addition, the quality of the blocks constructed by Haitong has always been recognized in the professional and particularly from ship inspectors.

Sinopacific Ship Building Group press release