Cosco secures offshore contracts for USD 366 million

The Chinese conglomerate has secured orders for a series of European offshore vessels for a total price of USD 366 million, including options for additional orders.

Photo: Erria

Cosco Corp., part of major Chinese company Cosco Group, has secured a series of important orders for vessels that will be employed in the European offshore industry. The orders are worth a total of USD 366 million, though which companies placed the orders has yet to be revealed.

Upstreamonline reports that the Cosco shipyard in Guangdong will build two Platform Supply Vessel Ships (PSV) for an unnamed Dutch company, and the shipyard will also build two PSVs for a Singapore-based company. The ships are set for delivery in the first quarter 2015.

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