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Annual Report 2013
Here at COSCO, we have always believed that
innovation is an integral part of industry success.
While relatively new to the offshore marine
engineering field, our commitment towards
innovation in this burgeoning sector is unwavering.
We also employ the latest technology in our
operations, which enables us to better manage
and deploy our resources.
Our COSCO Shipyard Technology Centre, with
bases in Group headquarters and various shipyards
has a combined staff of over 1,600. Based in Dalian,
the Technology Centre in Group headquarters
primarily engages in research and development of
oil and gas-related products and technologies. It
also undertakes design of specialised vessels and
marine engineering products. Meanwhile, our R&D
Centres in Nantong and Qidong shipyards mainly
conduct design of offshore marine engineering
projects such as cylindrical rigs, semi-submersible
rigs, FPSOs and wind turbine installation vessels.
Our supporting enterprises work in tandem with
the shipyards and are tasked to carry out product
design of complementary products such as the
jack-up drilling platform’s lift system and single-
point mooring systems.
With committed research and development, our
goal is to develop and patent new product types
and build new or industry-leading product models.
This could be in the areas of bulk carriers or offshore
marine engineering vessels. These achievements
will augment our core operations and allow us to
offer that much more value-add in our services.
With increased expertise, we seek to develop more
efficient and reliable rigs, bulk carriers, car carriers,
heavy lift vessels, wind turbines installation vessels,
shuttle tankers and other ship types.
LOOKING BACK AT 2013
The beginning of the year saw COSCO’s receipt
of AIP certification from Lloyd’s Register for its
self-designed 81,000 DWT dual-fuel bulk carrier.
Considered to be environment-friendly, it had
reduced carbon dioxide (CO2) emission by 10%
to 20% and nitric oxide and nitrogen dioxide
(NOX ) by 90%; hence, fulfilling the emission
standard required by the International Maritime
Organisation (IMO), International Grains Council
(IGC), International Code for Ships using Gas or
other Low Flash-Point Fuels (IGF Code) and other
related regulatory standards. This successful
project springs from the collaboration between
COSCO’s ship design center, Golden Union, the ship
owner and Lloyd’s Register.
RESEARCH AND
DEVELOPMENT
I ns i de COSCO and Corporate Ci t i zensh i p