Deltamarine Bags $4.5m Vessel Design Job
Deltamarin, a subsidiary of AVIC International Maritime Holdings, has been contracted by Finland’s Rauma Marine Constructions (RMC) shipyard to design a new ro-pax vessel. AVIC said Deltamarine will provide the Finnish Rauma Marine Constructions Oy shipyard with services for a ro-pax vessel to be built for the Danish Mols-Linien A/S. “The new 158-metre ro-pax vessel will be designed and optimised to carry passengers and cargo between the Danish islands of Bornholm and Sjaelland. The cargo capacity will be 1,500 lane metres,” a press release said. The work under the contract will be performed at Deltamarin’s offices in Finland and Poland for a period of 12 months. "Construction will commence in spring 2017 and the vessel will enter service in autumn 2018," said the release.
AVIC Terminates Proposed Acquisition of Shanghai Catic
AVIC International Maritime Holdings Ltd, an active player in the marine and offshore industry, issued a statement that its proposed acquisition of Shanghai Catic Industrial Co Ltd has been terminated after failing to secure relevant regulatory approval. "To date, the relevant regulatory approval required for the completion of the Sale and Purchase Agreement has not been obtained. In accordance with each of the Sale and Purchase Agreements, it shall be terminated automatically if the conditions precedent provided therein, including the requirement to obtain the relevant regulatory approval from the governmental authorities in the PRC, are not satisfied within 180 days from the date of the Sale and Purchase Agreements," says the statement.
AVIC buys 60% in ship investment firm
AVIC International Maritime Holdings is in the process of acquiring 60 per cent in a Singapore-incorporated ship investment firm for $3.6 million. The Singapore-listed firm, as per a regulatory filing, will acquire three million issued and paid-up shares, in AVIC Zhenjiang Shipyard Marine Pte. Ltd (AZM) that is 60 per cent owned by Catico Investments and 40% by Jiangsu Zhenjiang Shipyard (Group). Jiangsu Zhenjiang Shipyard will continue to own 40 per cent of AVIC Zhenjiang, which generated RMB88.7 million in revenue and earned RMB10.9 million in 2014. AZM is in the business and trade of acquiring, owning, selling, brokering and chartering of various types of vessels, including but not limited to tugboats and offshore vessels. It invests in vessels by taking up equity stakes.
