Greater ChinaShipyards

Cosco Guangdong delays two PSVs

Shanghai: Cosco Corporation has announced today that its subsidiary shipyard Cosco Guangdong has reached an agreement with an America owner to delay the delivery of two platform supply vessels which were originally scheduled for delivery in early 2014.

Under the agreement, the shipowner can elect to take delivery of any one or both of the vessels at any time prior to June 30, 2016. The two vessels have been fully completed.

The American owner ordered four PSVs at the yard in March 2012, with two of the vessels delivered in December 2014 and February 2015.

Cosco Guangdong will refund the installments paid on the PSVs, $5.4m per vessel, to the shipowner if the delivery is not taken.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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