COSCO (Nantong) Shipyard C o., Ltd, a subsidiary of the COSCO’s 51% owned subsidiary, COSCO Shipyard Group Co., Ltd, has secured a construction contract from an Asian ship owner to build one self-elevating Workover Unit with an option to build another simil ar unit.
COSCO Nantong and the ship owner have agreed to keep the contract price confid ential. The unit is scheduled for delivery in the 3rd quarter of 2017. The option may be rendered effective by the ship ow ner at any time four months after but not later than six months of the construction contract.