A new Chinese ship repair yard was officially opened this week, capable of handling 120 ships a year, further adding to the nation’s dominance in the repair segment.
The new yard is a joint venture between Shanghai COSCO Shipping Heavy Industry and Jiangsu Watts Energy & Engineering, located in Qidong, some 50 km north of Shanghai.
The yard covers an area of 1,000 acres and is equipped with a 1,000-ton gantry crane with a steel structure processing capacity of 150,000 tons.
A recent report from class society ABS reckons current global repair yard capacity is expected to meet demand through 2027, however, demand for retrofits will continue to increase through 2035, which will require additional repair yard capacity to support fuel conversions.