Rolls-Royce, the global power systems company, has won an order to design and equip two platform supply vessels being built by Jiangsu Eastern Heavy Industries in China.
The order is worth £12m and will entail Rolls-Royce designing the vessels and also supplying an extensive range of onboard equipment, including main engines, propulsion system, thrusters, automation and control systems, deck machinery, bulk handling systems, rudders, steering gears and shaft generators.
Jiangsu Eastern Heavy Industries is a new customer for Rolls-Royce in the offshore market.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The vessels are due for delivery in 2014.
JH
-
Is investing in AIM still worth it after IHT clampdown?HMRC expects to rake in £110 million a year from upcoming inheritance tax changes on AIM shares. The tax relief will be cut from April 2026, meaning you could find yourself paying 20% in inheritance tax.
-
AI in finance: how is technology changing financial advice?There are huge opportunities for AI to improve and democratise financial services, particularly financial advice. But is the regulatory environment ready for AI to become mainstream in finance?
