Shanghai: China-based ship repair, shipbuilding and offshore engineering facility, Titan Quanzhou Shipyard, has launched its first vessel, a 6,500 ton double-hulled bunker tanker named Titan Honour (pictured). The tanker is the first of the yards twenty-two vessel orderbook to be launched, and is expected to be delivered to its owner in October.
Over the next two years, the yard plans to expand its specialised ship-building capability for chemical and oil product vessels and hopes to develop into one of the largest ship repair yards in the region by 2009. "The yard's strategic location will save time and cost for ships discharging cargos in North Asia, which will be able to conduct tank cleaning during their return journey rather than outside port," said Titan Quanzhou Shipyard in a statement.
The yard also plans to become an offshore engineering hub, building oil platforms to cater to the growing offshore oil exploration and production industry in Asia. Construction of the facilities is scheduled for completion in 2008. [06/08/07]
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