Due to the lagged effect of the international financial crisis on the shipbuilding industry, the number of new orders received by shipping enterprises in China has witnessed a remarkable decline. In the face of the severe challenges, COSCO Dalian Shipyard is speeding up the transition to the industry of marine engineering equipment manufacture so as to looking for new space for development in the shipbuilding market with ever-fiercer competition.

Recently, the last drilling module of the first deep-sea drilling vessel "Dalian Pioneer" has completed the installation in COSCO Dalian Shipyard, and has entered the debugging stage.

Chinese shipbuilding companies have completed 76.65 million DWT in 2011, reaching an increase of 16.9 percent and amounting to more than 40 percent of the world\'s total shipbuilding output. However, due to the shrunken shipping market, the RMB appreciation, rising costs and other pressure, the number of new orders has dropped by 23.5%, and the shipbuilding market is facing a grim situation.

COSCO Dalian Shipyard always insists in taking the world\'s leading technologies as the core competitiveness of enterprise. It has introduced 19 experts in marine engineering and manufacturing from South Korea, Singapore, Europe and the United States and other countries, and set up workstations with the Chinese Academy of Engineering to seek for great improvements in the technological content and added value of its products.

At present, the marine products of Dalian COSCO Shipyard amount to more than 60% of its total output value, and is developing into the only manufacturer of FPSO ships in China at an average annual growth of 30%.