COSCO (Dalian) Shipyard Co. , Ltd , a subsidiary of the COSCO’s 51% owned subsidiary, COSCO Shipyard Group Co., Ltd, has secured a Floating Production Storage and Offloading vessel (FPSO) conversion contract worth approximately USD95 million from MODEC Offshore Production Systems (Singapore) Pte. Ltd. (“MODEC”), the company said in its press release.
The converted FPSO vessel is scheduled for delivery in the fourth quarter of 2016.