Cosco wins contracts from Belgium and Norway

COSCO Corp Singapore said its 51%-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 million.

COSCO Shipyard secured the $38.2 million 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.

At the same time, the yard won five conversion contracts worth $157.1 million from the Norwegian shipping company FrontLine. These vessels are targeted for progressive deliveries before October 2008.