Cosco to build self-elevating unit for Asian buyer
China’s COSCO Nantong shipyard has secured an order to build a self-elevating workover rig.
The company said the order came from an Asian ship owner, without disclosing the identity of the client.
According to Cosco, the rig is expected to be delivered in the third quarter of 2017, with financial details left undisclosed.
Furthermore, the rig builder said the client will have an option to order another similar unit.
“The option may be rendered effective by the ship owner at any time four months after but not later than six months of the construction contract, ” Cosco said.