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          Economy

          

          


          


 

          


          

          China, Singapore join hands in shipbuilding industry
          


          (Xinhua)
          
 Updated: 2010-04-14 10:38
          


          


          

          



 

Large Medium Small 




          

          


           
          SINGAPORE: The China Shipbuilding Industry Corporation (CSIC) and Singapore's Pacific International Lines ( PIL) opened a joint venture - CSIC Pacific - on Tuesday. 
          

          

          

          

          


          


          


          


          


          


          Related readings:
          China, Singapore join hands in shipbuilding industry Singapore, Zhejiang seek new frontiers in co-op
          China, Singapore join hands in shipbuilding industry China Eastern to open direct flight between Nanjing and Singapore
          China, Singapore join hands in shipbuilding industry Singapore, China to enhance co-op in science, technology
          China, Singapore join hands in shipbuilding industry China-Singapore deal on tax cooperation takes effect
          Speaking at the opening of the company, Lim Hwee Hua, Singapore's Minister in Prime Minister Office and Second Minister for Finance and Transport, said that this CSIC-PIL's partnership is reflective of the close links between China and Singapore. 
          

          She said that the partnership is forged against a backdrop of an extremely difficult period for the shipping industry, adding that setting up of the company to provide alternative ship financing options for distressed shipping assets during this period "would surely be most welcomed by industry players." 
          

          CSIC Pacific will also designate Singapore as the place of arbitration for its contracts. Lim said that this is the strongest endorsement of the transparency and efficiency of Singapore's legal regime.
          

          



 

          

          



 



 

          

          



 

          


 

          
           



          


 

          


          


 

          


          


 

          


          

          





          

          





          


 

          


          


 

          


          


 

          


          


 

          


          

          

          
           
          

          










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