Towards Financial Freedom
Cosco bags contracts for two floating accommodation units
Cosco bags contracts for two floating accommodation units. Cosco (Nantong) Shipyard, a subsidiary of Cosco Corp's 51% owned Cosco Shipyard Group, won contracts from a Singapore entity for two high-end floating accommodation units valued at over USD170m each. The company will be converting two partially completed hulls to complete the floating units. The delivery is expected 24 months after the contracts becomes effective. The contract for the first unit has already become effective while the second one will become effective in six months time. The contract win follows the trend of Chinese shipyards winning contracts for offshore rigs and floating units. (Business Times)
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