On September 26th, 2005, upon the delivery of a 175,000dwt Capesize bulk carrier at Shanghai Waigaoqiao Shipbuilding Co, a new record in Chinese shipbuilding industry had been created---an annual production capability of 2.065 million deadweight tons has marked Shanghai Waigaoqiao Shipbuilding Co as the first shipyard in China that can break the line of finishing 2 million deadweight tons a year.
On Oct 18, 1999, Shanghai Waigaoqiao shipyard was founded on a wasted land in Shanghai, beside sea entry of the Yangtse River. Thereafter, an advanced shipyard has been unveiled in front of the world.
In 2003, at the same time as the first-phase accomplished, Waigaoqiao Co. had delivered ahead of schedule 3 ships (two 175,000dwt Capesize bulk carriers, one 150,000 dwt FPSO ship) totally 500,000 dwt. In 2004, its production capability had reached to a new level: 7 ships, total 1.22 million dwt had been delivered. In 2005, with the equal amount of crews, facilities as last few years, and encountering a series of difficulties such as the rising price of raw materials, RMB exchange rate adjustment and increasing amount of total output of ships, Waigaoqiao Co. had kept regulating its craftwork and methods in order to increase its production efficiency. As an example, the first 175, 000 dwt Capesize bulk carrier was consumed 22 months to finish, now the whole process only takes 10 months.
In addition, Waigaoqiao Co. has accomplished outstanding achievements in management. In 2005, it has won orders over 4 million dwt, with 7 million dwt orders in hand, manufacture tasks has already been arranged up to year 2008.