The Board of Directors of COSCO Corporation (Singapore) Limited announced today that four shipbuilding contracts signed by COSCO (Zhoushan) Shipyard Co., Ltd (Cosco Zhoushan) with a European ship owner for the construction of four 111,000dwt tankers have been made effective recently at a value of over US$180 million in total.
Delivery of the above four tankers are expected to commence from first half of 2015. In addition, the ship owner has an option to declare up to another two contracts for the construction of the same tankers.
The Company will make announcements as and when the shipbuilding contracts subject to such option a re declared effective.
Press Release, July 9, 2013