Shandong devotes major efforts to developing into a strong province in maritime industries, accelerating the construction of the modern marine sector, building the brand of "Shandong Marine Engineering", and giving new impetus to the rise of the blue economy.

Recently, the Penguins floating production, storage, and offloading (FPSO) project—the largest and most intelligent cylindrical FPSO device built by a Chinese company—was successfully delivered in Qingdao, Shandong. For the project, its R&D team conquered a number of construction difficulties, such as the ultra-precision installation of fairleads and hoisting integration in the narrow space. It made breakthroughs in five technologies that were first applied in China and realized more than 20 technological innovations, with integration speed and accuracy reaching world-class levels.

Over the past few years, Shandong has focused on offshore oil and gas development equipment and new-type offshore engineering equipment, such as ultra-large FPSO devices and polar oil and gas drilling rigs, and has given key support to the construction of innovation platforms such as special scientific research projects and manufacturing innovation centers.

From January to November 2022, the output value of the marine engineering equipment manufacturing industry in Shandong amounted to 9.84 billion yuan, ranking first across the country. During the "14th Five-Year Plan" period, Shandong will center on five major equipment industries including characteristic high-end ship types and marine energy equipment to create a high-end and leading marine engineering equipment product system with a sound structure and distinctive characteristics.