South Korean STX Group is currently the world’s 4^th largest shipbuilding enterprise. It invested 3 billion USD in Changxing Island Port Industrial District to established the shipping industrial base project, with work beginning on 14 September 2006; on 14 April 2009, the first ship was named and delivered, creating the global shipbuilding industrial record of shipyard building to ship delivery in 22 months, and building the dock with the largest water capacity in the nation. In 2009 its shipbuilding capacity was 2 million tons. After full project completion, it will have an annual shipbuilding capacity of 3.5 million tons.