Cosco Signs $150m Shipbuilding Contract

Cosco Corp. announced that it s Cosco Shipyard Group signed a $150m contract with a European shipowner to build a vessel specially designed for the purpose installation of offshore wind turbines. The company said that this is the second jack-up vessel which COSCO will build fo the owner. The vessel is designed to carry eight to 10 wind turbines on each trip, to operate at water depths of up to 45m with a crane capacity of up to 900 tons. Delivery is scheduled for 2014.