Shanghai Zhenhua Heavy Industries (Group) (ZPMC) is set to revamp its subsidiaries into six sub-groups in a move to consolidate its internal resources.
The six sub-groups will focus on port machineries, offshore engineering, offshore services, electricity, overseas development, and financial investment, ZPMC told IHS Maritime on 21 July. On 18 and 21 July, the sub-groups of offshore services and offshore engineering were officially inaugurated.
The revamp is intended to address ZPMC’s current problems, such as unconsolidated internal resources, inadequate abilities, low efficiency, and difficult control of risks, Song Hailiang, chairman of ZPMC, said at the inauguration ceremony of the sub-group of Shanghai Zhenhua Offshore Services Group on 18 July.
Shanghai Zhenhua Offshore Services Group comprises ZPMC’s shipping business, tug, and shipping design. Its target market includes project and special cargo shipping, deepsea underwater installation, offshore renewables, and offshore energy.