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January 3, 2008 Cosco Shipyard Group in new repair yard JVChina's Cosco Shipyard Group and Jiangsu Lianyungang Port Co. Ltd. have formed a 60:40 joint venture company, Cosco Lianyungang Shipyard Co., Ltd', Cosco Lianyungang is a subsidiary company of Cosco Shipyard Group. Its principal activities are repairing and conversion of merchant vessels and offshore products. It is expected that, in time, Cosco Lianyungang Shipyard will become another major shiprepairing base in East China. Cosco Lianyung has already been designated to carry out what is desribed as "a large conversion project of LNG to chip vessel from TMT Co. Ltd."
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