USC takes over Zvezda yard

Moscow: United Shipbuilding Corporation has taken on 53.5122% of the voting shares of the long planned Zvezda shipbuilding complex in Russia’s Far East.

State-run USC is the nation’s largest shipbuilder. Zvezda, an established repair facility mainly for military vessels, is aiming to break into shipbuilding, especially for offshore.

Moscow has made recent calls for the nation’s energy majors to place orders at this yard, and the government is also looking at subsidies to boost the country’s shipbuilding prowess.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
Back to top button