COSCO Shipyard Group Wins Over $400 Million in New Contracts

Dalian shipbuilding
Dalian Shipbuilding, image: Yoshi Canopus

COSCO Corporation’s shipbuilding subsidiaries, COSCO (Nantong) Shipyard and COSCO (Dalian) have won shipbuilding orders today worth over USD $400 million.

At COSCO Nantong, the yard has been contracted to convert a semi-completed hull to a high end floating accommodation unit for a total consideration of over USD $170 million. The conversion is expected to take two years.

At COSCO Dalian, new contracts were awarded for a new 30,000 DWT cargo and training ship as well as a jack-up drilling rig. According to COSCO, the contract values were USD $53.3 million USD $180 million respectively.

Deliveries for both the cargo ship and the jack-up are planned for the 3rd quarter of 2015.

COSCO also notes that the 134.8 meter, 4500 m2 livestock carrier “Galloway Express” was delivered today from their yard at Guangdong to undisclosed European buyers.