SINGAPORE -- COSCO Shipyard has entered into an agreement with Jiangsu Lianyungang Port to form a joint venture company named COSCO Lianyungang Shipyard Co. (COSCO Lianyungang).
COSCO Lianyungang has a registered capital of $24.7 million. COSCO Shipyard (Group) has 60% shares in the venture, with Jiangsu Lianyungang holding 40%. COSCO Lianyungang will be a subsidiary company of COSCO Shipyard (Group).
COSCO Lianyungang also announced that it has won an LNG-to-Chip-vessel conversion project from TMT Co.