Penglai and Damen sign Business Cooperation Agreement
07 March 2007

The Penglai Bohai Shipyard Company Co., Ltd. in China and Damen Shipyards of Gorinchem, the Netherlands, have signed a 5 year Business Cooperation Agreement for the construction of the top end of the range of Damen standard tug boats and in particular the larger Azimuth Stern Drive tug designs.

Construction will take place at the modern shipyard of Penglai, which is based half way between Beijing and Shanghai at the northwest coast of the Yellow Sea and will be supervised and supported by Damen staff.

This Business Cooperation Agreement will enable Damen to increase its building capacity in China, in order to meet the ongoing demand for state of the art and powerful Damen ASD tugs.

The first two vessels which to be built at the Penglai Bohai Shipyard are of the Damen ASD 3211 design with a bollard pull of 68 tons, delivery is scheduled for September 2008.

Wallem Shipbroking acted as Agents for the completion of this cooperation agreement. Wallem represent Damen in Hong Kong, Taiwan, South China and Shandong Province in China.

The Netherlands, Gorinchem