Shanghai Waigaoqiao Disposes of USD 1 Bn Offshore Newbuilds
Specifically, Shanghai Waigaoqiao will transfer seven jack-up rigs and four platform supply vessels, which are under construction at the shipyard, to Tianjin CSSC CCB Investment Management, an asset management company and another subsidiary of CSSC.
As disclosed, a total contract value is RMB 7.48 billion (around USD 1.13 billion).
SWS was faced with problems of delivery of the newbuildings and this has negatively affected the financial performance of the company, as explained in the statement.
The sale of the aforementioned offshore products comes in an effort to secure delivery of the newbuildings and improve operating results of the shipyard, the company said.
World Maritime News Staff