Cosco Singapore unit wins 195.3 mln usd contracts from Belgium

COSCO Corp Singapore said its 51 pct-owned unit, COSCO Shipyard Group, has secured an engineering, procurement and construction (EPC) contract from Belgium and conversion contracts for five semi-submersible heavy lift vessels from Norway worth a total of 195.3 mln usd.
COSCO Shipyard secured the 38.2 mln usd EPC deal from Belgian firm Exmar NV. Under the deal, it will build a high-standard accommodation barge expected to be delivered by the third quarter of 2008. The deal also comes with an option to build one additional barge.
Meanwhile, the five conversion contracts worth 157.1 mln usd are with Norwegian shipping giant, FrontLine and the vessels are targeted for progressive deliveries before October 2008.