Cosco Secures $470m Contract for 4 Subsea Supply Vessels

Source: www.gulfoilandgas.com 8/13/2014, Location: Asia

COSCO (Dalian) Shipyard Co., Ltd., a subsidiary of COSCO Corporation (Singapore) Limited’s 51% owned subsidiary, COSCO Shipyard Group Co., Ltd., has secured contracts valued over USD470 million excluding owner furnished equipment from Maersk Supply Service AS (“MSS”), part of the A.P. Moller-Maersk Group, to build four (4) subsea supply vessels. MSS has also secured options for two (2) additional subsea supply vessels.

The vessels are scheduled for delivery in 4Q2016 and 1H2017 respectively. Save for their respective shareholdings in the Company, none of the directors or controlling shareholders of the Company has any interest, direct or indirect in the contracts.

Barring any unforeseen circumstances, the above contracts are not expected to have a material impact on the net tangible assets and earnings per share of the Company for the year ending 31 December 2014.


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Related Categories: Diving Contractors  Dredging  FPSO Vessels and Equipment  General  Marine Services  Mooring Systems  Offshore Platforms  Subsea Production 

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