New joint venture between Russian and Chinese shipyards

China’s Raffles Shipyard and Russia’s Far East Centre of Shipbuilding have signed a joint venture agreement to specialise in the construction or large vessels. Under the joint venture, large tonnage vessels will be constructed in the south of Russia’s Primorye region. The new shipyard will be equipped with super heavy elevating equipment and will be capable of building vessels with a displacement of up to 250,000 tonnes.