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.
WHAT DO YOU THINK?
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.
- Blockchain Demands Attention in Oil and Gas
- Macquarie Sees USA Oil Production Exiting 2024 at 14MM Barrels Per Day
- CNPC Opens Sea-Land Oil Storage and Transport Facility in Bangladesh
- Oman Sees Increasing Ship-to-Ship Transfers of Russian Oil Bound for India
- US Govt Makes Record Investment of $6B for Industrial Decarbonization
- Eni, Fincantieri, RINA Ink Deal on Maritime Decarbonization
- Perenco Still Searching for Missing Person After Platform Incident
- Czech Utility CEZ Bucks Weaker Prices, Demand to Log Record Annual Profit
- Oil Falls as US Inventories Increase
- Ithaca Energy Studies Deal for Eni's UK Upstream Assets
- Equinor Makes Discovery in North Sea
- Standard Chartered Reiterates $94 Brent Call
- India Halts Russia Oil Supplies From Sanctioned Tanker Giant
- DOI Announces Proposal for Second GOM Offshore Wind Auction
- Centcom, Dryad Outline Recent Moves Around Red Sea Region
- PetroChina Set to Receive Venezuelan Oil
- Czech Conglomerate to Buy Major Stake in Gasnet for $917MM
- US DOE Offers $44MM in Funding to Boost Clean Power Distribution
- Oil Settles Lower as Stronger Dollar Offsets Tighter Market
- UK Grid Operator Receives Aid to Advance Rural Decarbonization
- Chinese Mega Company Makes Major Oilfield Discovery
- VIDEO: Missile Attack Kills Crew Transiting Gulf of Aden
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Another Major Oilfield Discovery
- What Is the Biggest Risk to Offshore Oil and Gas Personnel in 2024?
- Vessel Sinks in Red Sea After Missile Strike
- Exxon Rights in Stabroek Do Not Apply to Hess Merger with Chevron: Hess
- Analysts Reveal Latest Oil Price Outlook Following OPEC+ Cut Extension
- Equinor Makes Discovery in North Sea
- Standard Chartered Reiterates $94 Brent Call