COSCO's Shipyards Sign $526 Million in Newbuild Orders

Rendering; MARIN TEKNIKK

COSCO announced a heap of new orders today including two new 64,000 ton dwt bulk carriers and four subsea supply vessels at their Zhoushan and Dalian yards, respectively.

The bulk carrier orders come from an undisclosed Asian buyer at a total consideration of USD $56 million and are scheduled to be delivered in by the end of Q1 2017. Maersk Supply Service placed the order for the subsea supply vessels which come at an aggregate price of USD $470 million. Deliveries for those four vessels are planned for 4Q2016 and 1H2017, respectively.

Maersk notes the subsea support vessels will be rated to work in waters up to 3,000 meters deep and are designed by Norwegian naval architecture firm, Marin Teknikk.

“With this new order in China, we have taken the next step in our extensive new-building programme,” commented Carsten Plougmann Andersen, CEO of Maersk Supply Service. “We are reshaping our fleet to focus primarily on Anchor Handling Tug Supply Vessels and Subsea Support Vessels. In a long term perspective we see great potential in these segments.”

Maersk’s order also includes options for two additional vessels.