COSCO wins $26m contract
Its subsidiary COSCO Shipyard Group secured the deal from a South East Asian company to build one semi-submersible barge.
The vessel has a deadweight capacity of 32,000 DWT and is scheduled for delivery in the second quarter of 2012.
The contract is not expected to have a material impact on the net tangible assets and earnings per share of the Company for the year ending 31st December 2011.