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Yangzijiang Shipbuilding entered a joint venture agreement with Tsuneishi Holdings to acquire a 34% equity stake in Tsuneishi Group (Zhoushan) Shipbuilding (TZS) through a private share allotment for RMB833.1 million.
Nippon Paint Marine's FASTAR I antifouling coating has been selected for three 1100TEU container ships being built by Tsuneishi Group for Jiangsu Ocean Shipping Co (JOSCO). The first vessel is nearing completion.