$160 Million Earmarked For New Ships

Wednesday, December 29, 1999
Nigeria Liquefied Natural Gas (LNG) said its transport subsidiary had secured a $160 million loan for two new ships from banks led by Credit Suisse First Boston. The company the loan would cover much of the cost of the ships -- being built by Korea's Hyundai Heavy Industries Co. Ltd.-- that will be needed to transport gas when a 50 percent expansion to the vast Bonny LNG plant is completed at the end of 2002.

Shipbuilding

STX to Slash Jobs, Sell Yard

To stat above water by restructuring, South Korean Shipbuilder STX Offshore & Shipbuilding Co. plans to lay off about a third of its workforce and sell a yard in France, says a report in WSJ.

Michelle Obama Sponsors Attack Submarine

General Dynamics Electric Boat has delivered to the U.S. Navy an attack submarine that is sponsored by first lady Michelle Obama and will be named for her home state, reports AP.

Croatia’s Jadrolinija to Buy New Passenger Ship

Croatia’s  largest national passenger shipping company Jadrolinija plans to expand its fleet with a new passenger ship, with the total cost of about 50 million euros, reports Poslovni.

 
 
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