Cosco Corp. (Singapore) Ltd. said Monday it has signed a contract valued at more than $150 million to build a specialized vessel for the installation of offshore wind turbines, Wall Street Journal reports.
Cosco's 51%-owned subsidiary, Cosco Shipyard Group Co. Ltd., signed the pact with a European shipowner and delivery is expected in 2014, the company said in a statement to the Singapore Exchange.
This is the second jack-up vessel Cosco will build for the shipowner. It will be able to carry between eight to 10 wind turbines and operate at depths of up to 45 meters, the statement said.
Cosco's 51%-owned subsidiary, Cosco Shipyard Group Co. Ltd., signed the pact with a European shipowner and delivery is expected in 2014, the company said in a statement to the Singapore Exchange.
This is the second jack-up vessel Cosco will build for the shipowner. It will be able to carry between eight to 10 wind turbines and operate at depths of up to 45 meters, the statement said.