Cosco Shipyard in new repair yard JV

China’s Cosco Shipyard Group and Jiangsu Lianyungang Port Co. Ltd. have formed a 60/40 joint venture company called Cosco Lianyungang Shipyard Co., Ltd which will be a subsidiary of Cosco Shipyard Group. Its principal activities are repairing and conversion of merchant vessels and offshore structures. In the long-term, it is expected that Cosco Lianyungang Shipyard will become another major shiprepairing base in east China.

Cosco Lianyung has already been designated to carry out a large conversion project for Taiwanese shipping company TMT Co. Ltd.