Dozens of new drilling rigs are sitting idle at Chinese yards, moved to the sidelines to make room for lift boats, fish farms, gas vessels and cruise ships.
These are new products that the fabrication yards have diversified into in order to survive the challenging oil and gas market conditions.
Chinese yards have adopted individual diversification strategies.
Dalian Shipbuilding Industry Corporation (DSIC) has been contracted to build a number of special-purpose vessels such as very large ethane carriers, while CIMC Raffles has secured contracts from Norway’s fishing industry to build fish farms.
