COSCO to build two jackups

Shipyards that are subsidiaries of COSCO Corp. (Singapore) Ltd.’s 51%-owned subsidiary COSCO Shipyard Group Ltd. have secured contracts totaling over $380 million to build two jackup drilling rigs and one bulk carrier.

Offshore staff

SINGAPORE– Shipyards that are subsidiaries of COSCO Corp. (Singapore) Ltd.’s 51%-owned subsidiary COSCO Shipyard Group Ltd. have secured contracts totaling over $380 million to build two jackup drilling rigs and one bulk carrier.

COSCO (Dalian) Shipyard Co. Ltd. has contracts from a Bermuda company for two LeTourneau Super 116E jackup drilling rigs, scheduled for delivery in 1H 2016 and 2H 2016, respectively. The buyer has also secured options for two additional jackup drilling rigs.

COSCO (Zhoushan) Shipyard Co. Ltd. has a contract to build one dry bulk carrier of 64,000 dwt for a European buyer. The bulk carrier is scheduled for delivery in 2H 2014.

11/14/2013

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