Hudong Heavy May Buy Assets from Parent

Friday, July 27, 2007
According to reports, Hudong Heavy Machinery Co. , may buy more shipbuilding assets from its state-run parent as it speeds up expansion to meet robust demand. Assets Hudong Heavy might purchase from China State Shipbuilding Corp. (CSSC) include a shipyard on Changxing island near Shanghai, Yang Jiafeng told Reuters on the sidelines of a shareholders' meeting.

The facility, with annual production capacity of 4.5m deadweight tons, is scheduled to deliver its first two vessels before the end of the year. Last week, Hudong Heavy, originally a ship engine maker, obtained regulatory approval to purchase $1.59b worth of shipbuilding assets -- including Waigaoqiao Shipbuilding Co. -- mostly from its parent via a share placement deal. Source: Reuters

Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

Reports: Brazilian Tycoon Batista Investigated For Financial Crimes

Brazils federal police have opened an investigation into former billionaire Eike Batista for financial crimes, including insider trading, manipulation of markets and money laundering,

Shipping Turns From Banks to Equity Markets for Cash

Shipping companies are turning to equity markets to fill a growing funding gap, betting that investors hungry for decent returns will provide capital to a sector

Keel-Laid for Navy's 10th LCS at Austal Yard

The Navy and Austal USA held a keel-laying ceremony for the future 'USS Gabrielle Giffords', the Navy's 10th littoral combat ship (LCS), in Mobile, Ala., informs

 
 
Maritime Contracts Maritime Standards Navigation Offshore Oil Pipelines Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1014 sec (10 req/sec)