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Cosco Shipping Heavy fixes jackup rig deal with Selective Marine

Cosco Shipping Heavy Industry has fixed a newbuild jackup rig, abandoned at its Dalian yard, to UAE-based Selective Marine Services.

The deal was arranged by SinoOcean, the idle offshore asset management platform set up by the Chinese government. The rig was originally ordered by Indian owner Dynamic Drilling for an ONGC charter.

Delivery of the rig to Selective is scheduled for June.

Earlier this week, SinoOcean also arranged the sale of an accomodation vessel at Cosco Zhoushan yard to African Offshore Services.

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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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