Port Moresby (EMTV): The robust economy of Papua New Guinea has gained momentum in the last six years this is evident in the growth and expansion of multinational companies.
Swire shipping finds Papua New Guinea in the heart of its operations. China Navigation’s Tim Blackburn says it is the heartbeat.
“The total current capital investment of next generation ships to service Papua New Guinea exceeds US$430 million,” said Blackburn.
With the interest of investors in Papua New Guinea due to the LNG Projects and the upcoming Wafi-Gold Mine shipping 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 created the environment for this sector to expand and provide employment to hundreds of Papua New Guineans.
The Prime minister was there to see the naming of the new ship to mark the importance of what is an investment by Swire to the countries growing economy.