On May 28th, Asia's first 3000-meter depth pipe-laying lifting ship, built by China's Rongsheng Heavy Industries Group, came out of the dock.

President Chen Qiang said the board of directors had realized the risks in shipbuilding market. So, the group would step up to offshore market. The drilling platform and offshore ship were already on Rongsheng's schedule.

Previsouly the group's main rivals in Jiangsu Province such as NACKS and COSCO, have walked for a while in offshore field.

COSCO Nantong Shipyard seemed as pioneer in this sunrise industry among domestic shipbuilders, as earkt as 2007. COSCO Nantong Shipyard took about 33.3% of China’s offshore orders, valued over $3.0bn.

As is revealed, in 2009 COSCO invested as low as its 1% asset but it triggered 80% the group's profits.

According to statistics, 11 main shipyards in Nantong created CNY5.29bn ($778m) output value in 1st quarter 2010, rising by 36.4% against last year. Nantong targets 12m dwt newbuilding capacity of CNY110bn revenue.

'The offshore project will become an emerging industry of the city,' said a local official.