A Review of the Nigerian Energy Industry

Cosco bags $366m in vessel contracts

COSCO-Secures-Contract-for-Conversion-of-Semi-Completed-Hulls13 September 2013 – China’s Cosco Corp has scooped multiple vessel contracts totaling $366 million plus options at three of its shipyards but has remained tight lipped about the clients’ identities.
The outfit said on Friday its Guangdong shipyard had landed contracts from an unnamed Netherlands-based company to build two platform supply vessels (PSVs), scheduled for delivery in the third quarter of 2015. The company also secured options for additional PSVs.

In addition, the yard inked a deal with a Singaporean company to build two PSVs for a 2015 first quarter delivery. This buyer also secured options for six additional vessels.

Cosco’s Dalian Shipyard will build two salvage lifting vessels for a Chinese agency, to be delivered in the first half of 2015.

It also scooped contracts from a mystery European company for two module carriers. The carriers will each have a 21,000 deadweight tonnage capacity and are scheduled for delivery in the first and second halves of 2015, respectively. Cosco said this deal included options for two further module carriers.

At the company’s Zhoushan Shipyard, another European company has ordered four dry bulk carriers, each with a 64,000 deadweight tonnage capacity. These vessels are due to be delivered in the second half of 2014 and the first half of 2015. The buyer also secured options for two additional vessels.

These deals are in addition to the $200 million-plus order placed by Axis Offshore for a semi-submersible accommodation rig, announced earlier this week. This unit will be constructed at Cosco’s Qidong shipyard in China and is expected for delivery at the end of 2015.
*Danica Newnham, Upstreamonline

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