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Singapore : :Cosco: 4 contracts worth US$105million made effective
Publish Date : 23-Mar-2012
COSCO Corporation (Singapore) Limited announced on Thursday that four shipbuilding contracts, worth US$105 million in total, signed by COSCO (Guangdong) Shipyard Co, Ltd with an American ship owner for the construction of four UT 771 CDL Platform Supply Vessels (PSVs) have been made effective on March 15.
COSCO (Guangdong) Shipyard Co, Ltd is a subsidiary of the company\'s 51 per cent-owned subsidiary, COSCO Shipyard Group Co, Ltd.
Delivery of the four vessels is expected to start in early 2014.
From Mar 15 next year, the ship owner can declare up to another six contracts for the construction of the same UT 771 CDL PSVs, which have a value of over US$160 million in total.
