United Faith Group has confirmed it has concluded a newbuilding contract for a pair of 50,000 dwt semi-submersible multi-purpose vessels with China’s Yantai CIMC Raffles, Seatrade Asia Online reports. In addition, United Faith is now at final stage of negotiation with another shipyard in China for another two same size vessels. “The contract will be concluded very soon,” the group said in a release. ?The conceptual design of the vessels was initiated by United Faith who researched and developed upon the concept, and entrusted Shanghai Ship Research and Design Institute (SDARI) for the basic design.
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