AsiaGreater ChinaOffshoreShipyards

Cosco Qidong secures Yinson FPSO conversion contract

Cosco Qidong Offshore, an affiliate offshore yard of Cosco Shipping Heavy Industry, has secured a contract from Malaysia’s Yinson Holdings for the conversion of a VLCC into a FPSO.

The project will see Cosco convert Yinson’s 2002-built 308,900 dwt VLCC Falcon, acquired by Yinson from John Fredriksen’s Ship Finance International in 2018, into one of the largest FPSOs in the world.

The conversion work will take 24 months and the total value of the contract is $174m.

Yinson Holdings currently operates seven FPSOs around the world. It acquired another two VLCCs from Neda Maritime and Ridgebury Tankers last year for FPSO conversion.

This week, Yinson Holdings sealed a long-term charter contract with Petrovietnam Technical Services Corp (PTSC) for FPSO PTSC Lam Son.

Tags

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.
Back to top button
Close
Close