STX Dalian shipyard rebooted as Hengli Heavy Industry

Hengli acquired the bankrupt STX Dalian yard in July last year for RMB2.11bn and invested a further RMB18bn into the facilities to develop it to be a high-end marine equipment manufacturing base.

The yard has now officially launched operations at the facility and started construction of its first vessel.

At the opening ceremony, Hengli also inked the first batch of shipbuilding contracts with several shipowners, as well as strategic cooperation agreements with suppliers, technology companies and design institutions for development and production of engines, steel plate and smart vessels.

Once into full production, the Hengli Heavy Industry park will have an annual shipbuilding capacity of 6.3m tonnes and a delivery capacity of 40 vessels.

The yard comes back into the market at a time when newbuildings orders are on the wane following a peak in 2021 and Chinese shipbuilders saw a 32% drop in new orders last year.

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