Norwegian container ship manufacturer MPC Container Ships has raised $75m through a private placement of shares.

The company has issued 15 million new shares as part of the transaction, which are currently priced at NOK43 ($5) a share.

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Germany-based asset and investment manager MPC Capital and other core shareholders invested $25m into MPC Container Ships, as part of the placement.

Fjord1 has contracted Norway-based Havyard Group for the design and construction of five new 111m-long electric ferries under a NOK1bn ($117m) deal.

The ferries are set to be powered by electric propulsion and will aim to produce zero and low CO2 emissions.

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"Fjord1 has contracted Norway-based Havyard Group for the design and construction of five new 111m-long electric ferries under a NOK1bn ($117m) deal."

Havyard Design & Solutions will design the vessels, which will be built at the Leirviki Sogn shipyard in Norway.

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The ferries will have a capacity to accommodate 120 cars each and are expected for delivery between 2018 and 2019.

Fjord1 intends to deploy three of the vessels along the Hareid-Sulesund route and the remaining two on the Magerholm-Sykkylven route in Norway.

Ultra Electronics' subsidiary Ultra Electronics Ocean Systems has received a $10m contract from the UK Ministry of Defence to produce 101 and 102 variants of the Submarine Countermeasure Acoustic Device (SCAD) for the Royal Navy’s submarine fleet.

The SCAD 101 variant is a self-contained, externally-mounted and launched torpedo countermeasure, while the 102 variant can be launched internally from a submerged signal ejector.