Sponsored By

Cosco shipyard agrees with buyer to delay handing over FPSO

China’s Cosco (Nantong) Shipyard has agreed to extend the delivery date of a FPSO originally scheduled for delivery in the second quarter of this year.

Lee Hong Liang, Asia Correspondent

October 23, 2015

1 Min Read
Kalyakan - stock.adobe.com

The Chinese shipyard has mutually agreed with the European buyer that the delivery date will be changed to the first quarter of 2017, due to changes in technical requirements from the shipowner.

“Construction of the FPSO is on-going,” Cosco Corporation (Singapore) Limited said in a regulatory filing to the Singapore Exchange. Cosco (Nantong) Ship is a subsidiary of Cosco Corp’s 51% owned subsidiary Cosco Shipyard Group.

“The extension is not expected to have any material impact on the net tangible assets and earnings per share of the company for the financial year ending 31 December 2015,” Cosco Corp said.

Meanwhile, Singapore-listed Cosco Corp yesterday warned of a net loss in the third quarter of this year compared to a profit in the previous period, due to challenging market conditions.

About the Author

Lee Hong Liang

Asia Correspondent

Singapore-based Lee Hong Liang provides a significant boost to daily coverage of the Asian shipping markets, as well as bringing with him an in-depth specialist knowledge of the bunkering markets.

Throughout Hong Liang’s 14-year career as a maritime journalist, he has reported ‘live’ news from conferences, conducted one-on-one interviews with top officials, and had the ability to write hard news and featured stories.

 

Get the latest maritime news, analysis and more delivered to your inbox
Join 12,000+ members of the maritime community

You May Also Like