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Published:2021.02.02 News Sources:Qingdao Gute Ship Supplies Co., Ltd. Views: | |||
Zhongyuan Haite has ordered an 80,000-ton semi-submersible from Guangshiang International
COSCO Marine Special Shipping Co., Ltd. (COSCO Special Shipping Co., Ltd.) announced on February 2 that the company will accelerate the transformation and upgrading of its ships and further improve the scale and strength of its semi-submersible fleet, according to its 14th Five-Year Plan. To this end, the board of directors of the company has considered and approved the investment of a subsidiary company of COSCO Shipping (Hong Kong) Investment and Development Co., Ltd., as the investment subject, to invest in the construction of an 80,000-ton semi-submersible vessel in Guangdong Shipbuilding International Co., Ltd., with a single vessel price of $123.8 million. This transaction by the Hong Kong subsidiary of the single ship company as the investment subject. The funds for the shipbuilding are raised by the Hong Kong subsidiary through its own funds and bank loans. The current balance and liability level of the company is reasonable. As a capital-intensive shipping company, the company maintains a healthy financial structure and its risks are controllable. A modest increase in the future, the company will through the financing debt limit, buy shipbuilding company investment capital demand, at the same time, the company will also actively studying a variety of other than the bank loan financing, including financing lease, issuing bonds, etc., so as to form a complete set of the transaction is the most appropriate sources of finance, integrated to reduce the overall cost of capital. Announcement, semi-submersible vessel's high-end offshore areas, with high technical threshold, the industrial added value is high, according to the company "difference" strategic planning, semi-submersible vessel business focus is one of the company's future development, the company will continue to foster semi-submersible vessel market advantage, build quality brand characteristics, through enhancing the core technology to lead and improve project management level, service global offshore market high-end market, energy markets and large project. The company has 7 semi-submersibles, including 2 20,000-ton semi-submersibles that are nearly 20 years old. With the continuous updating of the international conventions and regulations of the industry, as well as the large-scale development of the main goods in the Marine transportation market, the company needs to accelerate the filling of the transport capacity gap in the field of 80,000 tons from the perspective of the current size and development of its fleet. New build 80000 tons of semi-submersible vessel, semi-submersible ships can achieve 20000 tons, 40000 tons, 50000 tons, 80000 tons, 100000 tons of the full cover of mainstream ship type present in the size distribution of the big two small reasonable echelon structure among them, the fleet structure more reasonable, can further promote the overall competitiveness of semi-submersible ships, realize the strategic target of industry leaders. In the future, there will be continuous supply demand for the 80,000-ton LSMV market. First, global oil and gas exploration and production is expected to rebound after the Covid-19 outbreak, when the demand for the deployment and transportation of offshore equipment, including drilling RIGS, living platforms, FPSOs, etc., will return to growth. Second, in recent years, as the scale of LNG gas fields continues to increase, global procurement and modular production have become common practices, and the size of modules also tends to be large, with a single weight of more than ten thousand tons becoming normal. The module transportation of gas fields has a broad demand for semi-submersible vessels. Third, the new installed capacity of global offshore wind power is expected to reach 205.9GW from 2020 to 2030, and the share of offshore wind power in the global wind power market will expand from 10% to 20%. Large offshore wind power equipment such as jacket, single pile and offshore booster station all need semi-submersible vessel transportation. With the development of large-scale and intensive offshore engineering platforms, more and more high-end customers need large semisubmersible vessels. In recent years, the company has won the YAMAL LNG project and execute the Russia, kazakhstan TCO projects, including TCO project execution 61 voyage, the carrier 196 module, market power, has become a global module transportation market leader, more and more customers from the early stage of the project began to consult the company transport scheme. Major customers such as Shell and Chevron are in great demand for 80,000-ton semisubmersibles. According to the calculation, the project's total investment internal rate of return is about 8.10%, and the static investment payback period is 10.57 years, showing good economic benefits. To sum up, trying to seize the future offshore oil, LNG, and offshore wind power development brings to the semi-submersible vessel market opportunities, grasp the advantage of relatively low current shipbuilding market, invest in new built a 80000 - ton semi-submersible vessel, the vessel was put into operation can bring good returns for the company, after the project is in line with the company development strategy, to further consolidate and strengthen the company in the field of international heavy transport power and status. The board of directors of the company authorized the senior management team of the company to make investment decisions, identify investment subjects and sign shipbuilding contracts within a 10% range of the total investment of US $123.8 million. |
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