China: COSCO Guandong to build 4 PSVs for $120M

China’s COSCO Guandong shipyard has received a contract to build four platform supply vessels for a Singapore-based company.

The vessels are scheduled for delivery from 2Q 2016 to 1Q 2017. The shipowner has also secured options for two additional platform supply vessels of the same type.

The contracts for four platform supply vessels have a total contract value of approximately $120 million.

COSCO said the above contracts would not have a material impact on the net tangible assets and earnings per share of the company for the year ending 31 December 2014.

Update: 27.5.2014
In an e-mail sent to Offshore Energy Today, Singapore’s offshore ship supplier Chellsea has confirmed itself as the client who ordered the above mentioned vessels.