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General information of COSCO, sustainable development
analyses for subsidiary companies and social honors received |
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| II. Major subsidiaries and joint ventures |
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3. Shipbuilding and ship-repairing |
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COSCO SHIPBUILDING INDUSTRY COMPANY |
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| Nature of company: |
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| Staff: |
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| Core business revenue: |
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| Total assets: |
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| state-owned enterprise |
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| 100% |
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| 2143employees |
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| 1.778 billion yuan |
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| 6.439 billion yuan |
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1.Core businesses:
ship reparation, building, dismantling, facility and equipment dismantling
2.Capacity of products and services:
In 1993-2005, the company has obtained over 50 billion yuan of (consolidated) sales revenues, 3.4 billion yuan of (consolidated) profits. Since 1999, the company has successfully delivered 40 ocean vessels, including two 5,400-standard container vessels, three VLCC super-large oil tankers of 300,000 tons of carrying capacity, and three 5,000-automobile carrying vessels. These vessels have been highly praised by ship owners for excellent performance and stable quality.
COSCO is a leader in domestic shipbuilding industry. Endeavoring to shorten its gap with the international advanced level, COSCO Khi Ship Engineering Co., Ltd. has formed self design and development capability with certain scale and taken technology leadership, through ways of technology introduction, joint development, independent design, etc, and implementation of initiative innovation. Its systems of NASTRAN, NAPA and TRIBON not only ensure high-precision design and production, but also embody the concept of modern shipbuilding. The three-dimensional analogue ships, designed in the computer in advance, decrease onsite construction problems, and maximally improve production precision and efficiency as well as material utilization. With its subsidiaries located in Nantong, Nanjing and Shanghai, the company has absorbed over 3,700 employees and contributes dozens of million yuan of profit tax to the nation each year. |
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COSCO SHIPYARD GROUP CO., LTD. |
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| limited liability company |
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| 47.09% |
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| 3606employees |
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| 3.5 billion yuan |
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| 4.1 billion yuan |
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1.Core businesses:
Providing repairing and related services for various Chinese and foreign ships (except special ships and high-performance ships), repairing, building, and converting various ocean engineering equipment like ocean drilling platform, producing and selling land and ship metal construction components and ship parts.
2.Capacity of products and services:
The group now owns one 300,000-ton dock, three 150,000-200,000-ton docks, four 80,000-ton docks, and one 50,000-ton dock. It provides repair and conversion service for over 500 various ships from the mainstream markets of over 50 world’s famous countries including USA, UK, Norway and Japan. The specialized ship repair corporation group with the largest scale, fastest development and best management has repaired 522 ships in 2005.
The past five years has seen the rapid growth of the company’s operation achievements, with the sales revenues increased by four times, the profit amounts increased by seven times. Its market share in the domestic ship repair market has been increasing rapidly from 16.04% in 2001 to 28.78% in 2005. Since 2003, it has been ranked on the very top in China’s ship repair industry.
In September 2005, COSCO Shipyard initiated the COSCO Shipyard Ship Repair Technology Standard System, a domestic ship repair technology standard system. The system is made up of 134 technology standards and 54 guiding technology files, covering seven types including comprehensive repair, dock repair, ship body repair, outfitting work, engine repair, painting and electric repair. The standard has filled up the blank of domestic ship repair technology standard and laid solid foundation for the sustainable development of Chinese ship repair industry. |
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