COSCO China Shipyard to Build Four PSV's

COSCO Singapore subsidiary COSCO Zhoushan contracted with further opetion to build four Rolls Royce design Platform Supply Vessels (PSV's).

The value of the contract with a Hong Kong shipowner, is about US$119.2 million in total, and deliveries are expected to begin in the first half of 2014.

In addition, within six months, the ship owner has an option to declare up to another four contracts for the construction of the same UT771CDL PSVs,which has a value of approximately US$119.2 in total.

The company will make announcements regarding the option to build the other four PSV's as and when the shipbuilding contracts subject to the option are declared effective.