Cosco seals PSV quartet

Singapore-listed yard group Cosco Corp has firmed up four supply ship newbuildings for a Singapore owner.

The contracts are worth $120m for its Guangdong yard, it said.

It did not name the owner, but it looks likely to be Chellsea, which ordered two PSVs at Guangdong last year, declaring two of six options earlier in February.

The owner has also added two more options as part of the new deal.

This gives it a potential series of 10 vessels.

The latest four are set for delivery from the second quarter of 2016 to the first quarter of 2017.