The Board of Directors of COSCO Corporation (Singapore) Limited announces that COSCO (Nantong) Shipyard Co. Ltd., a subsidiary of the Company’s 51% owned subsidiary, COSCO Shipyard Group Co. Ltd., has secured a contract valued over USD 220 million from an Asian company to build two Self Propelled Pipelay Heavylift Offshore Construction Vessels.
The vessels are scheduled for delivery in the fourth quarter of 2013 and the first quarter of 2014 respectively.
COSCO Corporation (Singapore) Limited has one of the largest Ship Repair, Ship Building and Offshore Marine Engineering operations in China. A diversified group with activities also in Dry Bulk Shipping, Shipping Agency and other sectors, it is the SGX Mainboard-listed subsidiary of China Ocean Shipping (Group) Company, China’s largest shipping group and one of the top shipping conglomerates in the world.
[mappress] Subsea World News Staff , January 05, 2012; Image: COSCO