China: COSCO Nantong Wins Contract to Build Two Offshore Construction Vessels

The Board of Directors of COSCO Corporation (Singapore) 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 USD220 million from an Asian company to build two (2) 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.

The contract is not expected to have a material impact on the net tangible assets

and earnings per share of the Company for the year ending 31st December 2012.

[mappress]
World Maritime News Staff, January 5, 2012; Image: COSCO