SINGAPORE -- Titan Quanzhou Shipyard is building facilities to handle offshore engineering projects, including platforms, to serve the growing oil exploration and production industry in Asia.
The facilities will be completed in 2008, the company says. The yard, which began operations in Sept. 2006, is in the city of Quanzhou in China's Fujian province off the Taiwan Strait. Owned by Singapore-based Titan Oil Pte. Ltd., the yard is capable of accommodating vessels over 300,000 dwt.
The yard recently launched its first vessel, Titan Honour, a double-hulled bunker tanker that will be delivered in October. There are 22 vessels under construction for the international oil and gas players, including some based in Singapore and Norway.