South Korean shipping company Dongbang Transport Logistics and China’s Cosco Shipping Specialized Carriers have signed a memorandum of understanding to form a partnership in heavylift operations.
Under the agreement, which is valid until December 31, 2022, Cosco and Dongbang will join forces to bid on large scale heavylift projects.
The two companies collaborated on an offshore module transport project for Tengiz oilfield back in 2016.
Dongbang currently operates six heavylift vessels with plans to add another one to the fleet in 2020 and Cosco operates six semi-submersible heavylift vessels and over 40 multi-purpose heavylift vessels.
