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Shanghai Bestway bags order for two liftboats

Shanghai Bestway bags order for two liftboats
Shanghai Bestway Marine Engineering Design Co has bagged a contract to construct two self-elevating liftboats valued at a total of $116m from its associate firm Zhejiang-based Mekers Machinery.

The first of the two liftboats, each priced at $58m, is scheduled for delivery 18 months after the first deposit is made, and the second unit will be delivered 15 months after work has commenced on the first unit, according to an announcement by Shanghai Bestway.

Shenzhen-listed Shanghai Bestway said the deal will contribute positively to the company’s earnings in the second half of 2015 and the whole of 2016.

It added that the deal is a connected transaction as both Shanghai Bestway and Mekers Machinery are majority owned by the same controlling shareholder.

TAGS: Shipyards