COSCO President Visits Modec in Japan

On August 3, Mr. Wang Yuhang, President of COSCO Shipyard Group, went to Japan to visit the headquarters of MODEC, a world leading supplier of offshore oil and gas production equipment. He was accompanied by Mr. Zhang Jiqing, G. M. of COSCO Japan, and Mr. Gong Libing, Party Secretary of COSCO Dalian Shipyard, and warmly received by Mr. Toshiro Miyazaki, the new President and CEO of MODEC, and Mr. Yasuo Asama, General Manager and COO of MODEC.

Both sides had an in-depth exchange of views on the FPSO conversion business.

As a preferred partner of MODEC in China, COSCO Shipyard has converted five FPSOs for MODEC in the last 5 years. COSCO Shipyard’s high construction quality and efficient schedule control have been fully affirmed by MODEC¡¯s top management, and have paved the way for a move towards even more extensive business cooperation.

Mr. Wang Yuhang gave Mr. Toshiro Miyazaki a summary of progress of the FPSO ¡°RADIANT JEWEL¡±, currently being converted in COSCO Dalian Shipyard. Later on, he presented the owner with a model of the FPSO “SUNRISE IV”, which was just delivered last year, whilst inviting Mr. Toshiro Miyazaki to visit COSCO Shipyard in the near future.

On August 17, Mr. Toshiro Miyazaki paid a return visit to the COSCO Shipyard Group. In COSCO Dalian Shipyard he visited the “RADIANT JEWEL” to inspect the construction site and was satisfied with the progress of the project, which is now nearing completion.

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Source:COSCO ,September 16, 2011;