Cosco (Guangdong) Shipyards Receives $120M Order to Build 4 PSVs

Cosco Corporation (Singapore) Limited reported Monday that Cosco (Guangdong) Shipyard Co., Ltd, a subsidiary of the company's 51 percent owned unit Cosco Shipyard Group Co. Ltd., has received an order for the construction of 4 platform supply vessels (PSV) for a Singapore-based firm.

The 4 vessels, costing approximately $120 million, are scheduled for delivery from 2Q 2016 to 1Q 2017. This latest order followed the Singapore firm's earlier deal with Cosco (Guangdong) inked Sept. 12, 2013, in which it contracted the Chinese shipyard to build 2 PSVs for delivery in 1H 2015, while holding an option for six more PSVs.

"The shipowner has also secured options for 2 additional platform supply vessels of this type," Cosco Corp. said in a press release.

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