Quanzhou Shipyard

Overview

The Shipyard occupies an area of 110 hectares with a shoreline of 3,600 meters. It has the capability to provide ship repair, specialized ship building and offshore engineering services.

In April 2014, the Group formed a strategic alliance with Keppel Offshore & Marine Ltd (“Keppel O&M”), a wholly-owned subsidiary of Singapore-listed Keppel Corporation Limited, by entering into a 30-year shipyard management services agreement. Pursuant to the conditional agreement with FELS Offshore Pte Ltd, a subsidiary of Keppel O&M, Keppel O&M will provide the Shipyard comprehensive services in offshore and marine solutions including design, construction and management. The alliance will leverage the Shipyard’s unmatched geographical location and operational accreditations to capitalise on favourable government policies and the extensive market in China. The co-operation with Keppel O&M will further enhance Titan’s position in becoming a leading solutions provider in the offshore and marine industry in China and Asia. The agreement provides Keppel O&M an option to subscribe (via warrants or convertible bonds) up to 9.9% of the Company’s equity and become a strategic shareholder of Titan. We believe this arrangement will enhance our strategic relationships and is a “win win” for both the Group and Keppel.

Excellent Geographical Location

Titan Quanzhou Shipyard, sited at the deepwater port of Douwei near Meizhou Bay in China’s Fujian province, is conveniently located along the busy shipping and trading routes. The shipyard, with its large docking and repair capacities and facilities, will well serve the current demand for such services along China’s southeast coastline.

  • Directly facing the Straits of Taiwan to the east, Douwei is only two nautical miles from the main channel of Meizhou Bay and about 50 nautical miles from the Straits of Taiwan
  • Water depth up to 30 meters in Douwei’s main approaches can accommodate vessels up to 300,000 dwt
  • Douwei port is large enough to enable even very large vessels to manoeuvre within the port
  • There are a total of eight locations permitting up to 22 large vessels to be anchored simultaneously
  • The shipyard’s location is near to some of Asia’s busiest ports:
    – northbound 502 nautical miles to Shanghai
    – southbound 386 nautical miles to Hong Kong
    – eastbound 170 and 186 nautical miles to Taipei and Kaohsiung respectively
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