Bohai Bay
In 1994, Brian Chang, a Singaporean of South African descent, founded Yantai Raffles at the junction of Bohai Bay and the Yellow Sea. The shipyard is in close proximity to Korea and Japan, an area that accounts for 80% of the global shipbuilding capacity. YRS is the only shipyard in China to be majority foreign-owned. It has agreed to acquire 100% of the Sanlian Longkou shipyard in Shandong, China.