SWS on target

Shanghai Waigaoqiao Shipbuilding (SWS) in China has met its targets for the first half of this year which was to develop its shipbuilding capacity to 1.22 million DWT. Confronted with the rising price of steel plates and equipment, the company has put great efforts on increasing shipbuilding capacity, reducing costs and improving profits.

During the first six months, SWS has delivered four vessels, three of which were 175,000dwt Capesize bulk carriers and another a 170,000dwt FPSO. In May, a new record of four vessels floating out simultaneously in the No.1 dry-dock with two of them being launched, confirmed that SWS is now a world-class shipyard.

The company also received orders totalling 875,000DWT increasing the order backlog to 5,285,000DWT.