COSCO Corporation (Singapore) Limited announces that shipyards, which are subsidiaries of the Company’s 51% owned subsidiary COSCO Shipyard Group Co., Ltd, have secured contracts valued at approximately USD230 million to build one Float ing Accommodation Unit (FAU) and one Module Carrier as follow:
1. COSCO (Qidong) Offshore Co., Ltd Contract from a Singapore entity to build one Floating Accommodation Unit (FAU) scheduled for delivery in 1Q2017. The buyer has also secured options for five additional FAUs.
2. COSCO (Dalian) Shipyard Co., Ltd The contract under the first option cited in the announcement dated 12 September 2013 to build one 21,000DWT Module Carrier for a European company has been rendered effective. The vessel is scheduled for delivery in 2Q2016.