Chinese rigbuilders collaborate in CODIA

The alliance members will seek increased cooperation in research and development. The seven Chinese rigbuilders are the first batch of white list offshore shipyards, which were named by China’s ministry of industry and information technology in November 2015 as having proven their financial strength. They are Shanghai Waigaoqiao Shipbuilding (SWS), China Merchants Heavy Industry (Shenzhen), Yantai CIMC Raffles, Shanghai Zhenhua Heavy Industries Company, Cosco (Qidong) Shipyard, Dalian Shipbuilding Industry Offshore and Cosco Shipyard. Improvements in designs, research and technology are a key requirement for the white list offshore shipyards, as the government has stated that the white list yards must make an annual investment of at least two percent of their yearly revenue into design and technology.