Beijing--(Business Wire)--As China’s leading maritime exhibition, China Maritime – The 7^thInternational Offshore Engineering Technology & Equipment Exhibition (CM) will be held on March 20-22, 2017 at New China International Exhibition Center in Beijing, concurrently with the 17^th China International Petroleum & Petrochemical Technology and Equipment Exhibition (cippe2017).

In recent years, the Chinese government is increasing support for maritime exhibitions especially after Chinese President Xi Jinping proposed the “One Belt, One Road” Initiative, which was echoed later by Chinese Premier Li Keqiang, who called on the construction of a maritimesilk road linking China and the ASEAN countries to stimulate hinterland development.

Leveraging the global vision of Beijing, China Maritime aims to promote global cooperation on maritime technologies & equipment and help enterprises generate social benefits and build itself into a high-end exhibition in the maritime industry. cippe2016, with an exhibition area of 100,000m², attracted a total of100,000 visitors and 2,000 exhibitors from around 65 countries and regions, among which 46 were Fortune 500 enterprises.

Maritime industry has gained strong support  from Chinese government

China is strengthening its efforts to develop the maritime industry. For the next five years,the global demand for maritime engineering equipment is estimated to be worth $60-75 billion, and China is going to invest RMB 250-300 billion or $36.9-44.2 billion in maritime engineering equipment manufacturing during the 13^th Five-Year Plan (2016-2020).

Chinese market performs well as global offshore engineering market stays sluggish

The newbuilding order size experienced a sharp decline globally in the second half of 2016. Nevertheless, the Chinese market performed well with its newbuilding market share rising to 50.5% from 47.9% in 2013, defending its world’s first place. Meanwhile, it signed orders for 31 sets of offshore engineering equipment and 149 offshore engineering vessels, worth a total of $14.76 billion and accounting for 35.2% of the global market.

China Maritime is a high-end arena for global offshore engineering giants

China Maritime 2016 attracted a large number of prestigious enterprises and organizations including Det Norske Veritas, Panama Maritime Authority, Rosneft, Baker Hughes, National Oilwell Varco, GE, Cameron, Schneider, Honeywell, API, Caterpillar, Cummins, MTU, Tyco, Atlas, Aker Solution, Jotun Paints, HEMPEL, PANASIA, Siemens and ABB, as well as China State Shipbuilding Corporation, China National Offshore Oil Corporation, China National Petroleum Corporation, Sinopec, etc. and nearly 1,000 media outlets around the world reported the event.

In addition, last year’s event also attracted around 100 buyer delegations to negotiate business on site, including delegations from Ulstein, Bourbon, McDermott, Icon Offshore, POSH Semco, Bhagwan Marine, and China’s COSCO, COSL, Sinotrans& CSC Holdings etc.