COSCO Shipyard wins contracts worth $563m

Singapore: The COSCO Shipyard Group has revealed that it has secured more than $563m worth of projects from international customers. The projects include the construction of eight bulk carriers which will be delivered between May 2009 and March 2010 and 10 VLCC conversions. Each conversion is expected take between 160-180 days to complete, with progressive deliveries expected by the third quarter of 2008.

"Many of our contracts had been sealed with worldrenowned  global  industry  players," said  Ji Hai Sheng, COSCO Shipyard Group vc. "As  we  advance  our  shipyard  competencies  and  enlarge our marine engineering earning base to include wide range of high-value work  such as rig-building, ship-building and VLCC conversions, we are pleased with the  substantial  progress  made  in  diversifying  our  customer  base  of  world-class  corporations."  [112/07/07]