Another Chinese dock opens

China?s shipbuilding industry, already a world class player with around 6% of the newbuilding market, has expanded its capacity even further with the recent introduction of its latest newbuilding dock at Shanghai Waigaoqiao Shipyard (SWSC). This marks the completion of the first phase of a $387 million joint venture project involving Jiangnan Shipyard (Group) with CSSC, Shanghai Bao Shan Steel & Iron Company and Shanghai Electrical (Group) General Company. The first phase started in October 1999, with completion of the second and final phase set for 2003. So far, about $303 million of the total investment has been used, which has seen the completion of two 300,000 dwt dry docks together with two gantry cranes with a lifting capacity of 600t each. The yard?s annual capacity is now 1.05 million dwt following the completion of the first phase. Located near the mouth of the Yangtze River in Pudong New District, the Waigaoqiao shipyard has been regarded as one of China?s key projects and is destined to become the largest shipbuilding facility in China. The yard will ultimately boast an annual deadweight building capacity of 1.8 million tonnes, with 250,000 dwt oil tankers and 150,000 dwt dry cargo vessels as its main market sector. Its first project is the construction of the lead ship in a four-ship series of 175,000 dwt bulk carriers for Tai Chong Cheang Steamship Company of Hong Kong and COSCO. At a length of 289m and width of 45m, these Capesize bulkers will be the largest of their kind China has ever built.