Cosco says 4 shipbuilding contracts worth $133m made effective from Mar 15

Cosco Corporation (Singapore) says that four shipbuilding contracts signed by unit Cosco (Guangdong) Shipyard Co. with an American ship owner for the construction of four UT 771 CDL Platform Supply Vessels (PSVs) at a value of over US$105 million ($133 million) in total have become effective on March 15, 2012.

Delivery of the above four vessels is expected to start in early 2014. In addition, from March 15, the ship owner has the option to declare up to another six contracts for the construction of the same UT 771 CDL PSVs, which have a value of over US$160 million in total.