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Publish Date : 29-Feb-2012

Cosco Corporation (Singapore) Limited on Tuesday said that through its units, it has secured contracts for seven bulk carriers worth more than US$190 million.

Cosco (Guangdong) Shipyard Co Ltd, a subsidiary of the company\'s 51-per cent owned subsidiary Cosco Shipyard Group Co Ltd, secured a contract from a European company to build a bulk carrier of 35,000 dwt to be delivered in the first quarter of 2013.

Cosco (Zhoushan) Shipyard Co Ltd, another subsidiary of Cosco Shipyard Group Co Ltd, has secured two contracts and four option contracts from another European company to build a total of six units of 64,000 dwt bulk carriers with eco-friendly and fuel-efficient designs.

The two contracts will become effective following approval from the shipbuilder\'s board of directors.

Delivery of the two vessels is expected to be in the first quarter and the second quarter of 2014 respectively.

Delivery of the vessels under the option contracts is expected to take place within 18 months after the option contracts become effective.

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