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SHIPPING & MARINE | Staff Reporter, Singapore

Cosco to extend delivery of jack-up rig for KS Drilling

The deadline was extended by two years.

Cosco announced that the delivery date for one of the jack-up rigs involved in its deal with KS Drilling will be extended yet again. 

The deal was to build two units of rigs based on Letourneau Workhorse class design signed between COSCO Shipyard Co Nantong and KS Drilling.

The deal is extended from December 31, 2017, to December 31, 2019.

"The Company is not able to ascertain the financial impact of the above amendment at this point in time as there is still no certainty as to how the Rig will be eventually dealt with after the further amendment agreement," Cosco said.

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