China Shipyard Contracted to Build LNG Carrier

COSCO Corporation (Singapore) subsidiary COSCO (Dalian) Shipyard secures the RMB 500-million contract.

The order from an unnamed Chinese shipowner is to build a 28,000 cu.m capacity LNG carrier.

The vessel is scheduled for delivery in the first quarter of 2015 and COSCO state that none of the directors or controlling shareholders of the Company has any interest, direct or indirect in the contract. Furthermore they say that  they do not expect this contract o have a material impact on the net tangible assets and earnings per share of the Company for the year ending 31 December 2013.