GSI announces VLCC order and offshore decision

Guangzhou: Guangzhou Shipbuilding International (GSI) has announced in a board meeting yesterday that it has received a 3+2 308,000 ton VLCC order from COSCO Dalian and the vessels will be constructed in Guangzhou Longxue Shipyard. GSI said building the vessels at Longxue shipyard will amortize and reduce the cost the group.
 
In the meantime, GSI has announced plans to establish a fully controlled offshore subsidiary GSI Offshore Engineering with a registered capital of RMB50m, the company will be devoted to the design, construction, conversion and repair of offshore engineering vessels and platforms.
 
By the end of September, GSI had on hand orders for 38 vessels with total capacity of 1.51m dwt. [31/10/12]

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