Rainbow Heavy Industries wholly-owned subsidiary Rainbow Ocean has signed a shipbuilding contract with a well-known European shipowner to build six 4,500-cubic-meter live fish carriers, with a total contract value of approximately 2.8 billion to 3.3 billion yuan. According to the announcement, the vessels will be delivered in batches starting from the 29th month after the contract takes effect, and the contract will become effective upon satisfaction of conditions including the builder's receipt of the buyer's first payment. The company noted that the contract involves a long execution cycle and large amount, and there are risks of non-performance, exchange rate fluctuations, and uncertainty as it has not yet formally taken effect. Rainbow Heavy Industries is mainly engaged in high-end equipment business, with products covering more than 50 countries and regions. Its current ship orders on hand include platform supply vessels, chemical tankers, and other vessel types, and it expects some ship orders to be finalized in the third quarter.
Jiangsu Rainbow Heavy Industries Co LtdSubsidiary signs shipbuilding contract worth up to 3.3 billion yuan for six live fish carriers.
