Greater ChinaOffshore

COSL charters abandoned PSV pair

COSL, the offshore service unit of CNOOC, has fixed charter contracts for two newbuild PSVs with Waigaoqiao Shipbuilding.

The two vessels, Guo Hai Min Xing and Guo Hai Min Sheng, were originally ordered by Singapore owner Pacific Radiance and later the company entered into arbitration with the yard regarding the delivery of the vessels.

Last year, Hong Kong International Arbitration Center ruled in Waigaoqiao’s favor for one of the two vessels and Pacific Radiance’s favor for the other vessel.

The charter deal was arranged by SinoOcean, which has been making lots of efforts to move on idle offshore asset at domestic yards, having recently arranged the sale of an accomodation vessel from Cosco Zhoushan yard to African Offshore Services and fixed the charter of a newbuild jackup rig at Cosco Dalian yard to Selective Marine Services.

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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