Shanghai Waigaoqiao Shipbuilding Co., Ltd (SWS) opened in 1999. Situated on the southern coast at the mouth of the Yangtze River in Shanghai, it is jointly owned by China State Shipbuilding Corporation (CSSC), Shanghai Bao Steel Group Inc., Shanghai Electrical Group Corporation and China Shipbuilding Trading Co., Ltd, with CSSC holding more than 50% of the shares. The shipyard has its own design company, Shanghai Waigaoqiao Marine Design & Research Institute. In October 2009, the company celebrated its tenth anniversary, having delivered 100 ships including VLCCs, Capesize bulk carriers, FPSOsmore