China Rongsheng Heavy Industries awarded "The Shipbuilding Award" by Seatrade

China Rongsheng Heavy Industries Group Holdings Limited ("Rongsheng" or the "Group"; stock code: 01101.HK), a large heavy industries group in China, has garnered

"The Shipbuilding Award" in the Seatrade Asia Awards 2011. This year marks the second time the Group has been honored with this award and the third consecutive year it has received an award at the event. Mr. Chen Qiang, Chief Executive Officer and Executive Director of China Rongsheng Heavy Industries, was also honoured with the Seatrade Personality of the Year and received the award on behalf of the Group.
The presentation ceremony for the Seatrade Asia Awards 2011 organised by Seatrade was held at the Grand Hyatt Hong Kong on 17 June. The judging panel comprising authoritative professionals in the industry assessed entrants in all categories by six criteria. These criteria included their contribution to the development of sea commerce in the whole region and commitment to technology, innovation in operations or business, commitment to safety and quality, social and environmental responsibilities, business position and performance, as well as efforts in staff training and development. Apart from the above criteria, The Shipbuilding Award won by the Group also evaluates achievements in five other areas, including business profitability, reliability record, rate of loss time accidents, post-delivery service and design innovation. The Seatrade Asia Awards are the most authoritative prizes in Asia’s marine industry and are highly regarded in the global marine industry.
Mr. Chen Qiang, Chief Executive Officer and Executive Director of China Rongsheng Heavy Industries, said, "China Rongsheng Heavy Industries has been selected from among a number of shipbuilders to win this award once again. This success is not only a testament to the strong capability of the Group, but also a strong recognition by the Asian shipbuilding industry of the rapid growth in the Group's shipbuilding results and technology. China Rongsheng Heavy Industries was founded in 2005 and has rapidly grown into the second largest shipbuilder and the largest privately owned shipbuilder in China within six years. Currently, the Group owns the largest shipyard in China and is the global market leader in the manufacture of very large ore carrier (VLOCs) of 400,000 DWT. Winning this shipbuilding industry award again is solid proof of the Group's leading position in the industry."
In the past year, China Rongsheng Heavy Industries has captured market opportunities, actively expanding domestic and overseas markets while developing innovative technologies. As a result, it is the leader within China in securing new order volume for the second consecutive year, ranks first domestically and fifth globally in terms of order book, and has achieved a number of additional milestones. In May 2011, the world's first-ever 3,000-meter deepwater pipelaying crane vessel built by the Group was christened "Ocean Pec 201". Also this year, the world’s largest gantry crane with a lifting capacity of 1,600 tonnes was built by the Group, which significantly enhanced its core competitiveness. The Group has also signed new orders with shipowners in Greece and China, further consolidating its development foundation and generating new growth momentum.
Mr. Chen concluded, "Capitalising on our leading technology, R&D capability and competitive edge, we will continue to enhance our operational efficiency, profitability and production capacity. Through organic growth and merger and acquisitions, we will continue to reinforce our leading presence in the shipbuilding market, and actively expand our businesses in the segments of offshore engineering, marine engine building and engineering machinery, so as to develop into a large heavy industries group with a leading global presence."
Source: Today IR