Cosco Corp inks $500m Sevan contract.
COSCO Corp (Singapore), a shipbuilding offshoot of China Ocean Shipping (Group), has secured a $500m worth contract to build the deepwater semi-submersible drilling rig Sevan Brasil for Oslo-listed Sevan Drilling.
?Seven Brasil will be the second deepwater semi-submersible DP3 drilling rig to be awarded by Sevan Driling to Cosco Nantong upon the successful delivery in November 2009 of the first Sevan Driller,? said Jiang Li Jun, vice chairman and president at Cosco Corp (Singapore).
The drilling rig is scheduled for delivery in the first quarter of 2012.
Separately, Cosco Corp (Singapore) said its subsidiary Cosco (Dalian) Shipyard had delivered a 57,000 dwt bulk carrier Pu Lan Hai to its buyer.