Cosco Corp confirms $200m order for semi-submersible

Cosco Corporation (Singapore) has confirmed a contract worth over $200m for the construction of one harsh environment semi-submersible accommodation rig for Axis Offshore, Seatrade Asia online reports.

Axis Offshore, a joint venture between Danish shipowner J Lauritzen and Norwegian private equity fund HitecVision, will take delivery of the rig in the first quarter of 2015. The contract was first signed on 10 September this year.