Cosco Gets Deal to Build 2 Accommdodation Units
Cosco Corporation (Singapore) announced that its 51 percent-owned subsidiary Cosco (Nantong) Shipyard Co. Ltd. has secured contracts from a Singapore entity for the conversion of two semi-completed hulls to high-end floating accommodation units (FAUs) valued at over $170 million each.
The FAUs are scheduled for delivery 24 months after the contracts are declared effective. Cosco said while the first contract has taken effect, an announcement would be made when the contract for the second unit is rendered effective in six months’ time.
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