COSCO signed contract for floatover launch barge
The Board of Directors of COSCO Corporation (Singap ore) Limited announces that COSCO (Zhoushan) Shipyard C o., Ltd. (a subsidiary of the Company’s 51% owned subsidiary, COSCO Shipyard Grou p Co. Ltd.), has signed and made effective a contract with a Malaysian shipowne r to build a floatover launch barge at a contract value over US$23 million, said in the company's press release.
The floatover launch barge will measure 10.00 meter s high, 38/46 meters wide, 160 meters long and will be capable of transporting & p erforming float over operations of offshore topside modules structures weighing up to 14500 tons and will also be capable of launching jackets up to 20000 tons. Delivery of the floatover launch barge to the shipowner is expected to take place in the last qua rter of 2013. None of the directors or controlling shareholders o f the Company has any interest, direct or indirect in the contract. The contract is not expected to have a material imp act on the net tangible assets and earnings per share of the Company for the year endi ng 31 December 2013.