COSCO (Guangdong) Shipyard Co., Ltd, a subsidiary of the Company’s 51% owned subsidiary, COSCO Shipyard Group Co., Ltd, has secured a contract from Sentinel Marine Ltd, a UK Company, to build one Tanker Assist / Emergency Response / Rescue / Field Support Vessel (TAERRV), the company said in its press release.
COSCO Guangdong and Sentinel Marine have agreed to keep the contract price confidential. The vessel is expected to be delivered in the first quarter of 2017. Pursuant to the contract, Sentinel Marine has an option to place or der for an additional one TAERRV within six months. The Company will make an announcement if such option is exercised.