JES makes further offshore inroads

2013-03-24

 

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Singapore: The Singapore-listed Chinese yard JES International Holdings has, via its wholly-owned subsidiary Jiangsu Eastern Heavy Industries, signed a letter of intent to construct up to four offshore accommodation vessels valued at approximately $147m each.

This letter of intent is signed with the buyer from an unspecified Singapore-based offshore company. The eventual arrangement with the buyer is likely to be in the form of an order contract for one vessel and three options. A contract is likely to be signed by May. JES made its first foray into offshore last year with a series of PSVs.

Source from SinoShip

“With the commercial shipping industry continuing to remain in the doldrums, we decided to venture into the more lucrative offshore oil and gas segment sometime ago,” said Jin Xin, JES’s chairman.

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