Business News

Multi-National Shipping Company Invests in PNG

The robust economy of Papua New Guineahas gained momentum inthe last six years this is evident inthe growth and expansion of multinational companies.


Swire shipping finds Papua New Guineainthe heart of its operations. China Navigation’s Tim Beackburn says it isthe heartbeat.

“The total current capital investment of next generation ships to service Papua New Guineaexceeds US$430 million,” said Beackburn.

Withthe interest of investors in Papua New Guineadue tothe LNG Projects andthe upcoming Wafi-Gold Minershipping companies expect to have an increase in demand for dead weight vessels, which are vessels that can safely carry heavy weight.


The country’s economic growth has createdthe environment for this sector to expand and provide employment to hundreds of Papua New Guineas.


The Prime minister wasthere to seethe naming ofthe new ship to markthe importance of what is an investment by Swire tothe countries growing economy.

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