Fosen Yard and Hantong Shipbuilding sign LOI

Fosen Yard, Rissa, Norway and Hantong Shipbuilding, China, have signed a Letter of Intent to form a joint venture to build RoPax, RO/RO and cruise vessels.

The new joint venture will be marketed as Fosen Hantong and will utilize the technical, financial and market benefits of each party.

Hantong will cooperate exclusively with Fosen Yard for all business within the RoPax, RO/RO and cruise sector, initially for a period of eight years. It will dedicate a modern shipyard facility to the joint venture.

The parties will establish a design and development company in Trondheim, Norway with the intention of becoming a leading developer and provider of marine design and technology.