COSCO to Build Four Subsea Service Vessels for MSS

COSCO Corporation (Singapore) says that its subsidiary COSCO (Dalian) Shipyard has secured the 4 ship construction contracts from  Maersk Supply Service AS (MSS) which are worth over US$470-M (excluding owner furnished equipment).

MSS has also secured options for two additional subsea supply vessels.

The vessels are scheduled for delivery in 4Q2016 and 1H2017 respectively.

COSCO adds that barring any unforeseen circumstances, the above contracts are not expected to have a material impact on the net tangible assets and earnings per share of the Company for the year ending 31 December 2014.