New Tankers Ordered from COSCO Zhoushan Shipyard

COSCO Zhoushan Shipyard Co. has announced today a contract to build four 111,000 dwt tankers for an undisclosed a European ship owner as well as a contract to build a stinger barge from a separate European buyer.

Deliveries are expected to commence in the first half of 2015 and in the first quarter 2014.  The tanker newbuild contract comes at a price of $180 million and includes options for an additional two tankers.

In addition, COSCO’s Dalian Shipyard won contracts from an Asian firm to build a 22,000 dwt tanker with a scheduled delivery of Q4 2014.

The total contract value for the stinger barge and the 22,000 dwt tanker is USD $36 million.