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Pan United Shipyard Lands $38 Million Vessel Contract

Maritime Activity Reports, Inc.

June 12, 2001

Singapore's Pan United Corp Ltd said on Tuesday its unit Pan United Shipyard Pte Ltd won a $38 million shipbuilding contract from Shanara Maritime.

The contract was for a diving construction and support vessel, which would be delivered in the first half of next year, Pan United said in a statement to the Singapore Exchange.

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