Singapore: Expansion work is planned at China’s PaxOcean Engineering Zhuhai shipyard for offshore vessels, which is a joint venture between Singapore-based Kuok and China’s Guangdong Yuexin Ocean Engineering.
The yard says the expansion will allow it to build five more vessels each year and increase the aggregate value of its newbuildings by 30%, from the current RMB 1bn ($161m) to RMB 1.3bn ($209m).
The yard specialises in designing and building multi-purpose and offshore supply vessels. [22/01/15]
