Industry News

Significant contract awarded Chokwang Jotun

Published on 2006-09-12. Author : SpecialChem

Chokwang Jotun Ltd., Korea has recently secured contracts worth around USD 4 million. Next year, the company will supply coatings to four containerships at Hanjin Shipyard, HHIC, in Busan, Korea.

Chokwang Jotun Ltd., is very pleased to have secured the supply of coatings to these four 5100 TEU containerships at Hanjin Shipyard in Busan, Korea. The containerships have been ordered by the ship owning company, Cosco Container Lines (COSCON) (China) and Chokwang Jotun has been allocated the full supply. Steel cutting will start in September this year and the last ship will be delivered in November 2007. The contract is worth approximately USD 4 million.

Significant contract awarded Chokwang Jotun

This contract with COSCON is an achievement for several reasons. COSCON is the second largest group of shipping enterprises in the world, with 640 modern merchant vessels. As a consequence, COSCON is by itself a very important collaborating partner for Jotun, with which Jotun has entered in a strategic business alliance with in China. As one of the leading marine coating enterprises in the world, the Jotun group has developed sophisticated technologies in well developed informative systems as well as network for worldwide coverage and supply. With these apparent advantages, Jotun is an ideal choice for COSCONs' strategic partnership.

"By having a joint venture agreement with COSCON, we continue to secure the newbuilds and are now well established in our position with COSCON in terms of new business. Jotun will definitely be even stronger in the future", says Harald Hvalvik, Regional Marine Director - North East Asia.

"Chokwang Jotun Ltd. Korea and Jotun COSCO Marine Coatings (Guangzhou) Co., Ltd., China made this happen as a team effort and indeed gained encouragement and confidence by being a member of a team with "winning spirit"", says Hvalvik.

Hanjin Shipyard and Chokwang Jotun have had many years of excellent cooperation ever since the first contracted supply in 1978, and it is reflected in the good relations between the two.

"The support from key persons at both Hanjin Shipyard and in COSCON has been very important. The dedicated involvement of several members of the Jotun organizations in China and Korea has also once again showed us that "cross the border team operations" like this, prove to be successful", says Hvalvik.

Source: Jotun

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