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Cosco Wins Platform Supply Vessel Contract

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Singapore-listed Cosco Corporation disclosed late Monday that its subsidiary – Cosco (Guangdong) Shipyard – has inked a contract with a European ship owner for the construction of platform supply vessels (PSVs).

The contract takes effect Jan.28, and is valued at $54 million.

Under the agreement, which comes with an option for two additional vessels, Cosco is obliged to deliver both of the PSVs by 1Q 2015.

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