News

Published: Wednesday, 07 August 2013
Mike Fulton

Leading Chinese superyacht builder CIMC Raffles Yachts Ltd is being rebranded as PRYDE Yachts to reflect its change of ownership.

The new full owner is China International Marine Containers [Group] Ltd (CIMC), which in March 2013 acquired all the outstanding shares Yantai Raffles Yachts which then became a wholly owned subsidiary of CIMC.

Yantai Raffles Yachts Rebranded As Pryde 1

Brian Chang, a Singaporean of South African origin, formed Yantai Raffles in 1994. He has worked for some 40 years in the shipbuilding and marine fabrication sector, overseeing more than 600 marine construction projects. Some well-known superyachts to have come from the yard include Asean Lady, Nero, and the current in-build 88.8-metre Illusion.

Yantai Raffles Yachts Rebranded As Pryde

The shipyard is one of three operated by CIMC and is located in Yantai, Shandong Province near the junction of Bohai Bay and the Yellow Sea. This area accounts for some 80 percent of the global shipbuilding capacity. This 72-hectare yard boasts the world’s largest gantry crane, Taisin, with a lifting capacity of 20,000 metric tonnes and one of the largest dry docks ever constructed at 430 metres by 120 metres by 14 metres deep. Its also possesses one of the world’s largest land-based pedestal cranes and has a fully-automated warehouse that can store up to 40,000 pallets.