On December 10th, the 187K DWT Capesize Bulk Carrier, built for Japanese Santoku Marine Co., Ltd. was named and delivered in Shanghai. So far, SWS’s total shipbuilding completion in 2019 had exceeded 5 million dwt, and would reach 5.5 million dwt the whole year, successfully realizing the strategic goal of ensuring the strong position of traditional brands.

It is a special year of 2019 for SWS. Against the backdrop of the sharp decline in the global shipping market, the increasingly fierce market competition, and more prominent difficulties in receiving orders and delivering ships, following delivery of 4.4 million dwt in 2018, SWS reversed the downward trend again, marking that the adjustment of the strategic layout of the production system received significant results.

 180K DWT Capesize Bulk Carrier

FAST4WARD FPSO

cruise ship

In terms of product layout, merchant vessels had remained continuous and efficient construction pace, with 21 vessels completed throughout the year. The first generic FAST4WARD FPSO hull was delivered this year. The second FPSO hull is under erection in the dry dock in a tight and orderly manner and is scheduled to be delivered next year. The third FPSO hull is also scheduled to cut the steel in March next year and be completed and delivered in 2022. We also see continuous delivery of jack-up rigs and a total of six are expected to be put into operation by the end of January 2020; on October 18th, the first biult-in-China large cruise ship, which has attracted worldwide attention, officially cut steel and entered the substantial construction phase. The pattern of “Leading by Cruise Ship, balancing Development of Merchant Vessels and Offshore Product” of SWS has taken initial shape.

In terms of space layout, SWS made full use of shipbuilding resources in the Yangtze River delta, strengthened the cooperation with related enterprises, reduced the investment in fixed assets, and quickly solved the resource gap caused by the adaptive transformation of cruise ships with less investment.

In terms of organizational structure, SWS comprehensively combed the design management system and production management system, focused on establishing organizational structures and management systems that are compatible with three different business formats, and successively established the "Design Institute", "Merchant Vessel Project Management Department" and "Large Cruise Risk Control Committee", proactively adapt to the new market rigid demand and the future market reserve situation.

It was reported that SWS had undertaken 8 orders of bulk carriers, adding up to 210K DWT in 2019. There are 3 Aframax crude oil tankers, 4 refined oil tankers, and 1 FPSO; a total of 5.5 million dwt were be delivered, including 21 merchant vessels and 2 jack-up rigs and 1 FPSO, over-fulfilling its annual production task and leapfrogging straight to 2020.