KOTRA Dispatches 'Chinese Dalian Eco-friendly Shipbuilding and Marine Equipment Trade Delegation'

10 Busan-based Shipbuilding Equipment Companies Participate
112 Consultations and Contracts Worth 1.15 Million USD Achieved

The Korea Trade-Investment Promotion Agency (KOTRA) announced on the 22nd that it dispatched an "Eco-friendly Shipbuilding and Marine Equipment Trade Delegation" to Dalian, China on the 20th and 21st to assist shipbuilding and marine equipment companies in entering the Chinese market.

KOTRA held an export consultation meeting for eco-friendly shipbuilding and marine equipment on August 20 at the Intercontinental Hotel in Dalian, China. Scene from the consultation meeting. Photo by KOTRA

This event was organized in collaboration with Busan City and others, with 10 shipbuilding equipment companies from the Busan area, including Seonbo Industry, Daheng, and Wongwang Valve, participating. At the export consultation meeting held on the 20th, 67 companies including Dalian Shipyard (DSIC), Hengli Heavy Industry, shipyards under the COSCO Group, and local shipbuilding equipment agents participated, conducting a total of 112 consultations with domestic companies and discussing contracts worth approximately 1.15 million USD. On the following day, the 21st, the delegation visited Hengli Heavy Industry, a representative private shipyard in Dalian, inspected the site, and introduced their products directly to the purchasing managers. Consultations were also held regarding the procedures for our equipment companies to supply to Hengli Shipyard.

Recently, the global shipbuilding industry has been experiencing a boom due to the replacement cycle of aging vessels, which has increased demand for eco-friendly ships. In particular, the International Maritime Organization (IMO)'s global marine decarbonization regulatory policies have led to a rise in orders for eco-friendly ships. Consequently, opportunities for overseas expansion of the shipbuilding and marine equipment industry are also expanding.

Dalian is a key city in China’s shipbuilding and marine sector, home to large shipyards, numerous ship design companies, and shipowners. Recently, with an increase in ship orders, there has been a trend to replace European-made shipbuilding equipment with cost-effective Korean products. This is expected to lead to an expansion of exports by our shipbuilding equipment companies. Our companies have demonstrated strong capabilities in items such as ship engines, engine parts, ship equipment, and liquid pumps.

Hwang Jaewon, head of KOTRA’s China Regional Headquarters, stated, "Dalian, China’s largest shipbuilding and marine industry city, is an excellent place for our shipbuilding and marine equipment companies to enter." He added, "KOTRA will continue to support Korean shipbuilding and marine equipment companies’ entry into the Chinese market through global cooperation with local shipyards, shipowners, and others."

This content was produced with the assistance of AI translation services.