Shanghai: Cosco Shipyard Group (CSG) has secured its first tanker newbuilding contracts as well as announcing a series of tanker to bulker conversions in deals worth $422m.
CSG will construct two shuttle tankers for unnamed Norwegian shipowning interests at its subsidiary Cosco Nantong Shipyard.
The tankers are costing $171.6m in total and are due for delivery in 2010 and 2011. The deal includes options for two identical ships.
The company has also confirmed 18 conversion contracts worth $250m, fifteen of which involve tanker to bulker conversions.
Eight of the contracts, worth $101.4m, involve tanker to bulker conversions, another five, worth $57.5m, will see tankers converted into ore carriers. [24/01/08]
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