Rolls-Royce wins order for offshore vessels
Power systems group Rolls-Royce has won an order to design and equip four offshore supply vessels in China for COSCO (Guangdon) Shipyard Co.
Power systems group Rolls-Royce has won an order to design and equip four offshore supply vessels in China for COSCO (Guangdon) Shipyard Co.
The four UT 771 CDL vessels will be equipped for transporting pipes, equipment and cargo to and from pipe-laying barges, oil drilling and production platforms. The contract is worth £24m to Rolls-Royce.
"We are very pleased to sign our first contract with COSCO and we look forward to working closely with them. These vessels are complex, highly efficient and designed to meet specific challenges faced by the offshore industry," said Jrn Heltne, Rolls-Royce's Senior Vice President of Ship Technology.
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 contract is scheduled for delivery in 2014 and includes options to build an additional six identical vessels.
BC
-
FTSE 100 hits record highs – why is it rising and will we see more gains?
Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
By Marc Shoffman Published
-
How to invest in copper
It may be time to invest in copper as the red metal appears poised for a big jump. Dominic Frisby looks at what should investors should buy
By Dominic Frisby Published