COSCO Corporation secures offshore and shipbuilding contracts valued at USD300 million
The Board of Directors of COSCO Corporation (Singapore) Limited announces that shipyards, which are subsidiaries of the company’s 51% owned subsidiary COSCO Shipyard Group Ltd, have secured contracts valued at approximately USD300 million to build one accommodation barge and seven bulk carriers as follow:
1. COSCO (Zhoushan) Shipyard Co., Ltd Contracts from a European company to build one DP3 accommodation barge scheduled for delivery in 3Q2016 and an Asian company for two 64,000DWT bulk carriers scheduled for delivery in 1H2016. Additionally, the contract under the second option cited in the announcement dated 12 September 2013 to build one 64,000DWT dry bulk carrier for a European company has been rendered effective. The bulk carrier is scheduled for delivery in 2Q2017.
2. COSCO (Dalian) Shipyard Co., Ltd Contracts from an Asian company to build two 82 ,000DWT bulk carriers scheduled for delivery in 4Q2015 and 1Q2016 respectively; and a European company to build two 82,000DWT bulk carriers scheduled for delivery in 2 Q2016 and 3Q2016 respectively.