COSCO Shipyard Group books orders worth $566 million

Cosco QidongSEPTEMBER 13, 2013 — China's COSCO Shipyard Group Ltd has added more than $566 million to its order book.

COSCO (Qidong) Offshore Co

Axis Offshore, a joint venture between Danish shipowner, J. Lauritzen and Norwegian private equity fund, Hitec Vision, has exercised an option at COSCO (Qidong) Offshore Co., Ltd. valued at more than $200 million for a semi-submersible accommodation rig. The rig will be constructed at COSCO (Qidong) Offshore Co., Ltd.

Three of the shipbuilder's other yards have added orders and options totaling $366 million.

COSCO (Guangdong) Shipyard Co. Ltd. has won contracts from a Netherlands based company to build two platform supply vessels for delivery in third quarter 2015. The buyer has also secured options for two (2) additional PSVs.

COSCO (Guangdong) has also won contracts from a Singapore based company to build two PSVs that are scheduled for delivery in first half 2015. The buyer has also secured options for six additional PSVs.

COSCO (Dalian) Shipyard Co. Ltd. has received contracts from a China based agency to build two salvage lifting vessels for delivery in first half 2015. The Dalian shipyard has also won contracts from a Europe based company for two module carriers of 21,000 dwt each. The vessels are scheduled for delivery in first and second half 2015 respectively. The buyer (BigRoll Shipping, a joint venture of Netherlands heavy lift specialists BigLift and RollDock) has also secured options for two additional module carriers.

COSCO (Zhoushan) Shipyard Co. Ltd has received contracts from a Europe based company for four dry bulk carriers of 64,000 dwt each. The vessels are scheduled for delivery in second half 2014 and first half 2015. The buyer has also secured options for two additional dry bulk carriers.

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