AVIC wins $76m shipbuilding deal for 5 vessels

AVIC International Investments, the China-based shipbuilding management and consultancy services provider, says it has secured a US$60 million ($75.6 million) contract awarded for the construction of five vessels -- three Azimuth Stern Drive tugboats with 55 tons bollard pull each, one unit of diver boat, and a bunkering tanker with 1000 deadweight ton cargo capacity. These service vessels, which will be built at the group’s subcontracted shipyards in China, are scheduled for delivery in 2013.