In May, the $1Bn, 34,000gt Hai Yang Shi You 981 (HYSY 981), a drilling rig built in 2011 and operated by China Oilfield Services, a subsidiary of the state-owned China National Offshore Oil Corporation (CN00C), began exploratory drilling in the disputed South China Sea (SCS), about halfway between the Chinese-held Paracel Islands and the Vietnamese coast. The Vietnamese government called the action "illegal" and sent maritime police to the rig. They were met by an armada of Chinese Coast Guard, naval, and fishing vessels. If Vietnamese reports are accurate, there are currently 50-60 Chinese vessels of various types protecting the rig at all times. Confrontations between the two sides have already resulted in numerous rammings and the sinking of one Vietnamese fishing vessel. At the time of writing, HYSY 981 is still operating amid the Chinese fleet, with the Vietnamese looking on helplessly.
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