Cosco's Subsidiaries Bag $100M Contracts to Build 2 PSVs, 4 ERRVs

Cosco Corporation (Singapore) Limited announced Monday that Cosco (Guangdong) Shipyard Co., Ltd, a susidiary of the company’s 51 percent owned unit, Cosco Shipyard Group Co., Ltd, has clinched contracts with a European ship owner for the construction of two PX121 Platform Supply Vessels (PSV).

Under the contracts, Cosco (Guangdong) Shipyard Co. is scheduled to deliver the two vessels in the first and second quarters of 2016, respectively.

In addition, the ship owner can exercise options to construct two similar PX121 PSVs within a six month period. The company will announce when the shipbuilding contracts under the option are declared effective.

Separately, Cosco (Dalian) Shipyard Co., Ltd., another subsidiary of Cosco Shipyard, has won a contract from an Asian company to build four Emergency Response/Rescue/Field Support Vessels (ERRVs) for delivery in the first half of 2016.

The total value of the contracts for the four ERRVs and the two PSVs amounted to approximately $100 million, excluding owner-furnished equipment, Cosco said in a press release Monday.

Have a news tip? Share it with Rigzone!


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

Our Privacy Pledge

More from this Author
Rigzone Staff
e-mail us at
 -  Statoil Receives Consent to Drill Well... (Apr 21)
 -  OGA Urging Industry to Increase Pace o... (Apr 21)
 -  KBR, PT Singgar to Provide Staff for E... (Apr 20)
 -  Contest Launched Among Street Art Pain... (Apr 20)
 -  Wind Powered Oil Recovery Project Comp... (Apr 19)

Most Popular Articles

From the Career Center
Jobs that may interest you
I&E Quality Assurance Coordinator
Expertise: QA / QC / Inspection
Location: Luling, LA
Flarestack Assistant Operator_Corpus Christi
Expertise: Instrumentation Technician|Pipeline Services|Well Servicing & Testing
Location: Corpus Christi, TX
Senior Flarestack Operator_Pennsdale
Expertise: Instrumentation Technician|Pipeline Services|Well Servicing & Testing
Location: Pennsylvania, PA
search for more jobs

Brent Crude Oil : $52.99/BBL 0.11%
Light Crude Oil : $50.27/BBL 0.33%
Natural Gas : $3.16/MMBtu 0.94%
Updated in last 24 hours