Korean ship builder NOK-BONG Ship Building Co Ltd has purchased shares of common stock in St Lawrence Energy Corp, a Delaware corporation, while Lawrence Energy is making an investment in shares of NOK-BONG common stock in order to enter the energy sector, including renewable energy and transportation.
St Lawrence Energy’s initial business will involve the ownership of six new ships designed and constructed by NOK-BONG to transport ethanol and other fuels between US ports and worldwide markets, according to a news release.
Because of the investment in NOK-BONG, St Lawrence Energy will be able to obtain the ships from NOK-BONG sooner than otherwise possible.