Monday, December 24, 2012

[Marine] COSCO seals Offshore vessel

COSCO seals Offshore vessel

Dec. 19, 2012 - The Board of Directors of COSCO Corporation (Singapore) Limited announced that the contract for one unit of Harsh Environment Semi-Submersible Accommodation Rig, signed in September by COSCO Qidong Offshore Co., Ltd, a subsidiary of the Company’s 51% owned subsidiary, COSCO Shipyard Group Co., Ltd with Axis Offshore, a joint venture between Danish shipowner, J. Lauritzen and Norwegian private equity fund, HitecVision, has been made effective at a value of over US$200 million.

The vessel is scheduled for delivery in Q1 2015.

Axis Offshore has ordered the semi-submersible accommodation vessel, which satisfies the stringent North Sea operating requirements.

Axis Offshore is the newly established joint venture between strong and strategically committed shareholders; the Danish shipowner, J. Lauritzen and the leading oil and gas private equity firm, HitecVision.



Published : December 21, 2012


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