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Publish Date : 22-Aug-2012

COSCO Corporation (Singapore) yesterday said its unit, COSCO (Qidong) Offshore Co Ltd, has secured a contract worth over US$20 million from BAM International Australia bv and Clough Projects Australia Pty Ltd.

Under the contract, COSCO (Qidong), a subsidiary of the company\'s 51 per cent owned subsidiary, COSCO Shipyard Group Co Ltd, will build a jack-up barge with a capacity of 300 tons deck crane and can operate in water depth of up to 30 meters.

The vessel is scheduled for delivery in 11 months.

The contract is not expected to have a material impact on the group\'s net tangible assets or earnings per share for the fiscal year ending Dec 31, 2012.

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