Greater China

Honghua awarded first tanker order

Shanghai: Hong Kong-listed Honghua Group announced that its wholly-owned subsidiary Honghua Offshore Oil & Gas Equipment (Honghua Offshore) has entered into shipbuilding contracts with Korean company UDIN Engineering for the construction of six oil tankers.

It is Honghua Offshore’s first tanker order since its establishment in 2009, and the total value of the contract is $200m.

“Entering into the shipbuilding contracts indicates that Honghua Offshore has built up the diversified operation capacbilities and helped entering into a wide range of energy related transportation equipment,” said Zhang Mi, chairman of Honghua Group.

Additionally, Honghua Group also announced that it has entered into a letter of award with Orion Engineering and Management for the construction of one European-designed semi-submersible drilling rig at Honghua Offshore. Total value of the LOA is $320m. [18/08/14]

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