China International Marine Containers has completed the buyout of all stocks in CIMC Raffles, a top Chinese offshore yard, previously of Singaporean ownership, that CIMC bought a majority stake in 2008.

“CIMC Raffles has shown capability in constructing deep-water semi-submersible drilling rigs in batches, and in competing in the global market,” CIMC said in a release. [

Source from Sino Ship News