Cosco Corp. to Build $200 Million Harsh Environment Flotel for Cotemar

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May 2, 2012

Singapore-listed COSCO Corp said today that it has contracted to build US$ 200 million harsh-environment semi-submersible flotel for Mexico’s Cotemar S.A.

The contract was approved by Cosco’s Board of Directors and the vessel will be constructed a the Cosco Shipyard in Nantong, a 51%-owned subsidiary of the company’s Cosco Shipyard Group Co. Ltd.

The accommodation vessel will be built to GustoMSC’s Ocean500 design, with the capacity for 750 POB and equipped with a DP3 Dynamic Positioning system.  COSCO says the vessel will operate in the Santos Basin, Gulf of Mexico and in the North Sea and is scheduled for delivery in 30 months.

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