CIMC: Offshore segment new orders of US$1.49 billion, up 144% year-on-year

According to the financial community on October 23, China International Marine Contianers (Group)LTD. (CIMC) said on the interactive platform that the offshore engineering plate Yantai CIMC Raffles Offshore Technology Group Co. Ltd. (CIMC Raffles) benefited from the continuous delivery of orders, and profitability achieved a certain degree of improvement in comparison with the same period last year.

In the first half of this year, the company’s offshore segment accumulated new orders of US$1.49 billion, an increase of 144% compared with the same period last year, and accumulated orders in hand of US$5.11 billion, an increase of 141% year-on-year.

CIMC Raffles Group, centering on the strategy of “Big Ocean, New Offshore”, covers the fields of Marine oil and gas, Marine fishery, Marine clean energy, special ships, Marine space utilization, asset operation and management, etc., to build an industrial pattern of comprehensive development of Marine resources. CIMC Raffles Offshore has 5.11 billion U.S. dollars of orders on hand by the first half of this year, and the orders are scheduled until 2026.

According to CIMC’s official microblog, CIMC Raffles became one of the first two domestic enterprises to pass the qualification examination of the general contracting of BASF’s FPSO at the beginning of 2022, and is currently actively competing in the global offshore high-end equipment.

For offshore drilling rigs, due to the greenfield development of the deepwater segment and the rebound of exploration activities in the past two years, the market utilization rate of drilling rig platforms as well as the ultra-deepwater day rate have continued to rise. Among the existing 14 offshore platforms available for leasing, 100% of the leasing contracts for 6 jack-up platforms have been finalized; 2 semi-submersible platforms have begun to execute operation contracts, and the remaining 6 assets have preliminary business intentions.



Yangzijiang Shipbuilding

Most Popular