COSCO seizes two contracts worth US$70 mln

The marine engineering company has claimed the rights to build two bulk carriers of 92,500 dwt each due on November 2011 and January 2012, respectively.

COSCO Corporation (Singapore) Limited on Wednesday said that its 51% owned subsidiary, COSCO (Dalian) Shipyard Co. Ltd., has clinched contracts amounting to over USD70 million to build two bulk carriers of 92,500 dwt each.

The contracts take effect after an initial deposit from the Hong Kong ship owner is made.

The bulk carriers, which will be built at COSCO (Dalian) shipyards, are scheduled for deliveries in November 2011 and January 2012, respectively.

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