COSCO Corporation (Singapore) Limited announces the following:
1. COSCO (Dalian) Shipyard Co., Ltd., a subsidiary of the company’s 51% owned subsidiary, COSCO Shipyard Group Co., Ltd, has secured a contract from an Asian company to build four Emergency Response / Rescue / Field Support Vessels (ERRVs). The four vessels are scheduled for delivery in the first half of 2016.
2. Two shipbuilding contracts signed by COSCO (Guangdong) Shipyard Co., Ltd, a subsidiary of the Company’s 51% owned subsidiary, COSCO Shipyard Group Co., Ltd, with a European ship owner for the construction of two PX121 Platform Supply Vessels (PSVs) have been declared effective. The two vessels are expected to be delivered in the first and second quarters of 2016 respectively. Additionally, the ship owner has an option to render effective, within six months, two contracts for the construction of similar P X121 PSVs. COSCO will announce when the shipbuilding contracts under the option are declared effective.
The above mentioned effective contracts for four Emergency Response / Rescue / Field Support Vessels and two PX121 Platform Supply Vessels have a value of approximately USD100 million in total, excluding owner-furnished equipment.