December 10 - China Merchants Group has signed an asset transfer deal with Jiangsu Haixin Heavy Industries to fully acquire the shipyard as a leading offshore centre in China.

Haixin Heavy Industries will be dedicated to building offshore equipment including semi-submersible platforms, drillships, FPSO (floating production, storage and offloading) and pipe laying vessels.

Currently there are six jack-up rigs under construction at the Haimen port base of Haixin Heavy Industries.