Yantai And Friede Goldman Secure Contract

Yantai Raffles Shipyard, in conjunction with prime contractor Friede Goldman Halter, has garnered a $109 million order from China National Offshore Oil Corp. (CNOOC) to construct a 515 ft. (157 m), 3,800-ton heavy derrick/pipelay vessel. The two companies, who signed the contract on December 21, 1999 in Beijing, China, beat out competitors from Singapore, South Korea and Japan to secure the largest contract ever awarded by CNOOC. Scheduled for a March 31, 2001 delivery, the vessel will be built at the Yantai Raffles yard in Shandong Province, China.