China’s shipbuilding giant charts new course

Dalian - Dalian Shipbuilding Industry Company (DSIC), one of the largest shipbuilding companies in the country, is charting a new course to overcome decline in global demand. Based in Dalian in Northeast China’s Liaoning province, the State-owned company is shifting its focus away from conventional shipbuilding to high-end vessels such as very-large crude and ore carriers and bulk carriers. The shipping giant, which has 12,000 employees, recorded revenue of 23.4 billion yuan ($ 3.4 billion) in 2016 and net profit of 760 million.
DSIC’s service spans the entire life cycle of a ship, including research and development, construction, repair and scraping. It’s the only domestic equipment manufacturing enterprise that has expertise in all five industrial sectors: military project undertaking, shipbuilding, offshore equipment building, ship repair/ship scraping and heavy industrial project undertaking. As the flagship of China’s shipbuilding industry, DSIC has made great contribution to national defense and modernization of navy. More than 800 naval ships of 44 types have been built in Dalian since the founding of the People’s Republic of China, with DSIC building the greatest number of warships for the navy. READ MORE.