HSHIHyundai Samho Heavy Industries Co., Ltd
HSHIHigh School Honors Institute (Colorado University)
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Under the agreement, HSHI provides a list of technical support for the joint venture forthe design and construction of Aframax type tankers, including those using capable of running on natural gas,.
The establishment of JV will enable HSHI, together with the Russian partner, to implement ship construction projects in the new promising segment of the shipbuilding market - the construction of Green Aframax tankers.
The deal will see HSHI finalise the approval of the deal by early June at a board meeting.
A HSHI spokesman said, "IMM PE's investment puts a more favourable valuation on HSHI than HSHIs competitors, which tells that IMM PE is confident that the market is likely to bounce back and the investment reflects the true valuation of HSHIs competitive edge.
HSHI is positioning itself to fulfill the growing demand for quality-built, affordable housing in Hawaii.
The series of innovative 14,500 TEU (eleven vessels) and 18,800 TEU (six vessels) container ships are under construction at HHI and HSHI for UASC and classed by DNV GL.
This has presented opportunities for acquisition of vessels at attractive prices and SCI has also utilized the available opportunity for acquisition of this vessel from HSHI.