Singapore-listed Chinese shipbuilder COSCO Corp on Tuesday announced a contract to convert a large crude carrier tanker to a floating production storage and offloading (FPSO) vessel that will be deployed off Brazil, Reuters reports. The deal to convert the MT Sunrise Jewel to an FPSO vessel was secured by a unit of COSCO Shipyard Group Co, which is 51 percent held by COSCO Singapore. COSCO Singapore did not disclose the contract value.
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