JES International targets offshore with new yard

Chinese shipbuilder JES International is the latest to target the offshore industry as its new yard comes onstream. Jin Xin, chairman and ceo of the Singapore-listed shipbuilder said the new yard increased its capabilities and enhanced its reach to a wider market. “In the near term we seek to secure new orders to fully utilize our expanded production facilities. With capabilities now that we have competed our new yard, we plan to expand our portfolio to include more sophisticated vessels such as Floating Oil Production, Storage and Offloading (FPSO) units and ocean engineering vessels. Over the medium to longer term we plan to penetrate the offshore equipment sector to produce oil rigs,” Mr Jin said. JES’ current orderbook comprises 34 vessels worth $900m.