China Shipyards Win US$100-Million OSV Contracts

COSCO Corporation (Singapore) Limited says that its subsidiary Dalian and Guandong shipyards in China have won the following offshore vessel construction contracts:

1. COSCO (Dalian) Shipyard Co., Ltd., has secured a contract from an Asian company to build four Emergency Response / Rescue / Field Support Vessels (ERRVs), scheduled for delivery in the first half of 2016.

2. Two shipbuilding contracts signed by COSCO (Guangdong) Shipyard Co., Ltd, with a European ship owner for the construction of two PX121 Platform Supply Vessels (PSVs) have been declared effective. The two vessels are expected to be delivered in the first and second quarters of 2016 respectively.

Additionally, the ship owner has an option to render effective, within six months, two contracts for the construction of similar PX121 PSVs.

About COSCO Shipyard
Founded in June 2001, COSCO Shipyard Group Co., Ltd, is a subsidiary of China Ocean Shipping Company (COSCO). It specializes in large vessel construction, marine engineering, conversion, and providing ship repair services. The group has shipyards in Dalian, Nantong, Zhoushan, Guangdong Province, Shanghai, Lian Yungang and various other places.