Four PSV contracts made effective at Cosco Zhoushan

Four shipbuilding contracts from a Hong Kong owner for PSVs at Cosco Zhoushan Shipyard have become effective, Seatrade Asia online reports. The contracts for a quartet of UT771CDL design PSVs is worth $119.2m in total. Delivery of the vessels is expected to start in the first half of 2014 to the undisclosed Hong Kong owner. The same owner has options for a further four PSVs which can be declared in the next six months.