Key to Revitalizing Chinese Shipyards is Moving up in the Industry to High-Value and High-Technology Sector
GE is Partner of Choice for China's Marine Industry Transformation and Upgrading as World's Technology and Innovation Leader
Just 1 Percent Market Share Improvement in the High-Value Sector has the Potential to Add $40 Billion Accumulated Revenue Growth Opportunities for China through 2020
SHANGHAI – GE (NYSE: GE) showcases a series of innovative products that support China's emerging offshore and marine industry at Marintec China 2013. GE's newly established Global Offshore and Marine business powers, propels and positions the industry with the latest advances in diesel engines, gas turbines, electric drives and dynamic positioning solutions. GE's innovative solutions being showcased during Marintec are designed to deliver reliability, fuel efficiency, lower maintenance and life cycle costs supporting China's expansion and growth in the marine industry's high-value, high-technology sector.
Based on research by Clarkson, Morgan Stanley and GE internal studies with just 1 percent market share improvement in the high-value, high-technology sector that includes offshore and LNG carriers, China has the potential to add $40 billion accumulated revenue growth opportunities through 2020[1. Plus, if the industry transformation could achieve 5 percent market share improvement in the high-value sector, it would add $200 billion accumulated revenue growth opportunities for China through 2020.
As part of supporting China's growth priorities and achieving the goal of shifting to the high-value industry, GE also announced today that by collaborating with Dalian Shipbuilding Industry Company (DSIC) and Lloyd's Register, they have jointly developed a design for a gas turbine-powered LNG carrier.
Mark Hutchinson, president and CEO, GE Greater China, said, "As a partner of choice in China, our technology and innovation aligns with the industry shift to high value vessels that operate efficiently, reduce emissions and meet critical environmental regulations. GE is a global technology leader in air and land transport, so we are excited to enter a new space—marine. By combining our expertise in aviation, locomotives, electric propulsion and oil and gas, we can offer our customers ‘whole ship' solutions."
Key innovations on display at during Marintec China 2013 show include:
GE continues to provide reliable turbomachinery solutions with more than 175 centrifugal compressors and 100 gas turbines in use in floating production applications worldwide including the world's first FLNG projects in Australia (Prelude), Malaysia (Petronas FLNG) and the industry's first application of a high-speed direct drive motor-compressor solution with active magnetic bearings for an offshore platform in the North Sea (Total Martin Linge).
GE is one of the world's leading manufacturers of aeroderivative gas turbines, ranging from 4.5 megawatts (MW) to 42.7 MW. GE gas turbines are excellent prime movers for commercial mechanical drive, hybrid or all electric propulsion systems. Key differentiators that make GE gas turbine systems solutions the preferred choice include power density (i.e., high power in a lightweight, small footprint), fuel flexibility and use of GE's highly reliable Dry Low Emissions (DLE) technology.
GE gas turbine-based COGES (Combined Gas turbine Electric and Steam) system that features one 25-MW gas turbine, one steam turbine generator-set and two dual-fuel diesel generator-sets for low power operation and backup. The GE gas turbines can be equipped with a GE DLE or single annular combustion system—both capable of meeting Tier III IMO/Tier IV United States Environmental Protection Agency requirements now with no exhaust treatment and no methane slip.
Committed to investing in research and development to continuously improve technologies, the latest in medium-speed diesel engines (12 and 16 cylinder V as well as 6 and 8 cylinder inline configurations) reduces emissions by up to 70 percent and meets IMO Tier III in-engine. This breakthrough technology eliminates the need for urea-based after-treatment emissions reduction system as well as offering increased power (1,550 – 4,650 kW) while maintaining low life cycle cost, enhanced reliability and improved fuel efficiency.
GE exclusively provides the Echogen Power Systems heat-to-power system to enhance GE's mechanical, hybrid and all-electric propulsion system solutions. The Echogen system boosts efficiency by capturing the heat inherent in the gas turbine or diesel engine exhaust stream and turning it into electricity. This system allows for a more compact, lighter and economical configuration than traditional steam systems. Converting energy that traditionally gets exhausted out of a stack into useful power allows the overall system thermal efficiency to increase to near 50 percent.
VF-AFE, variable frequency, active-front end drive, reduces SFC consumption up to 15 percent and enables the use of existing technology while driving down maintenance intervals and costs.
The Inovelis podded thruster is designed to be more efficient for transit mode and dynamic positioning. The compact design improves hull integration, enabling an increased payload and allows fuel savings of up to 10 percent.
Rolls Royce Marine and GE supply large pods to cruise ships and ice class auxiliary vessels. The Mermaid Pod is an electrical pod and propulsion system that offers flexibility in machinery and vessel arrangement. The Mermaid Pod offers improved efficiency combined with excellent maneuverability.
The latest dynamic positioning system is more functional and "mariner friendly" than ever before. GE has introduced numerous improvements to facilitate its use, most importantly through the use of a new human-machine interface with a clean and uncluttered control panel that is easy to view and understand. Meanwhile, behind the scenes, an energy efficient dynamic positioning mode, which saves significant amounts of fuel, reduces equipment wear and tear and increases machinery maintenance intervals. As part of GE's ecomagination portfolio, the new dynamic positioning energy efficient mode, one of the finalists in the IET Innovations awards 2013, supports GE's commitment to deliver cleaner and more efficient sources of energy. Operational costs can be reduced and overall system uptime/availability increased.
Visor Asset Management system provides immediate access to GE's global engineering organization and assists ship operations in identifying and allocating onboard concerns and assets in a form that is easy to understand. Visor provides all system information to users on and off board allowing for improved safety and asset management.
As a world leader in drilling and subsea systems with 100 years history, GE also provides solutions including Vetco Riser System, Hydril Subsea BOP & BOP Control System, Vetco Diverter Systems and Vetco Subsea Production Systems to meet anticipated long-term demand.
About GE's Global Offshore and Marine business
GE's Global Offshore and Marine business offers solutions that are dedicated to the marine and offshore industries making technological advances that contribute to a more efficient, safer and cleaner world by providing the latest technologies. The rapidly expanding offshore and marine industry is constantly under pressure to reduce the environmental footprint it creates and, at the same time, increase output and capacity. GE Global Offshore Marine helps to generate clean power and efficiently propels vessels and installations keeping them on course and in position.
GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com.
GE started doing business in China in 1906. Today GE is becoming a partner of choice in China in the major infrastructure industries such as aviation, energy and healthcare, providing technologies and developing its 18,000 large workforce in the country. Visit GE China website www.ge.com/cn.
[1 Here we refer only to revenue from direct orders and does not account for the tremendous economic opportunities it will bring to adjacent industries, i.e. automation, navigation, etc. According to Clarkson, Morgan Stanley Research and GE internal studies, in 2011, China's orders booked in tanker, bulker, container cargo, other general cargo, reached $48 billion, 38 percent of total global orders, while in the high-value and high-technology sectors as LNGC, offshore vessels, etc., China won orders of 15 percent of global orders at the value of $25 billion.
Power Conversion, External Affairs