The ship repair sector of COSCO Heavy Industries has signed a Letter of Intent (LOI) with Newport Shipping. to join Newport Shipping’s global yard network.
The LOI will see five of COSCO Heavy Industries' ship repair yards come onboard as partner shipyards with Newport Shipping. The five yards are CHI Dalian, CHI Nantong, CHI Shanghai, CHI ZhouShan, and CHI Guangdong.
Drydocking and retrofit services
Lianghui Xia, Managing Director, Oslo, Newport Shipping, explains this recent development, “We are honoured to have COSCO as our new shipyard partner. The addition of five repair yards from COSCO Group will greatly strengthen our global service network."
"It is always an integral part of our strategy to offer first-class drydocking and retrofit services to our clients. And we will make sure to stay on the right track.”
Increased capacity
The addition of the five yards will increase Newport Shipping’s capacity by a further 19 docks and 1300 drydocking slots per year.
Overall, this will mean that Newport Shipping will have access to a total of 20 shipyards, 57 docks, and 3,800 drydocking slots per year.