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Cosco Shipyard wins $470m in subsea vessels from Maersk Supply Service

Cosco Shipyard wins $470m in subsea vessels from Maersk Supply Service
Cosco (Dalian) Shipyard, subsidiary of China’s state-owned Cosco Shipyard Group, has secured a contract valued at over $470m to build four subsea supply vessels for Maersk Supply Service, part of the AP Moller-Maersk Group.

The contract comes with an option for Maersk Supply Service to build an additional two subsea supply vessels.

The newbuildings are slated for delivery in the fourth quarter of 2016 and the first half of 2017.

The latest order by Maersk Supply Service is part of an extensive newbuilding programme that would see the company reshaping its fleet to focus primarily on AHTS vessels and subsea support vessels