Israel Shipyard delivered first cargo ship to European buyer
Aug 4, 2008
The vessel was built under contract to deliver two general cargo ships worth US$28 million
Israel Shipyards announced last week the delivery of a general cargo ship to a German customer.
The vessel was built under contract to deliver two general cargo ships worth US$28 million. The single hold 90 meters long and 15.4 meters wide vessel, is classified as dwt 4,750 bulk vessels which can transport, in addition to ordinary bulk cargo, heavyand oversize cargoes as well containers.
Israel Shipyards (ISL) is one of the largest privately owned ship building and repair facilities in the East Mediterranean. The Companywas established over 30 years ago and was government-owned until April 1995. Israel Shipyards Ltd has specialized in military shipbuilding.
Avi Shachaf, director general of ISL, said, following the delivery of the vessel, that the increase in shipbuilding costs has opened a strategic opportunity for ISL to enter the commercial ships market. “The company successfully competed with other shipyardsand proved it can build the ships. The new ship opens the door to other large scale projects”.
