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Cosco yards win contracts worth over $380m

Cosco yards win contracts worth over $380m
Cosco Corporation (Singapore) has secured contracts worth over $380m to build two jackup drilling rigs and one bulk carrier at its subsidiary yards in China.

Cosco (Dalian) Shipyard won contracts from a Bermuda company to build two LeTourneau Super 116E jackup drilling rigs, scheduled for delivery in the first half of 2016 and second half of 2016, respectively.

The buyer has also secured options for two additional jackup drilling rigs.

Meanwhile, a European buyer has exercised an option with Cosco (Zhoushan) Shipyard to build one 64,000 dwt dry bulk carrier, scheduled for delivery in the first half of 2014.

Last week, Cosco Corp signed a letter of intent worth more than $400m for Cosco (Qidong) Offshore to construct two semi-submersible accommodation vessels for a subsidiary of Oslo-listed Prosafe.