MSS orders Four Subsea Service Vessels to COSCO

By Curious

Maersk Supply Service AS (MSS), part of the A.P. Moller- Maersk Group, has awarded COSCO (Dalian) Shipyard four construction contracts. The shipyard is subsidiary of COSCO Corporation Singapore (51% owned subsidiary).

The worth of the contracts is more than $470 millions (owner furnished equipment excluded). The schedule delivery dates of the subsea service vessels are in the fourth quarter of 2016 and the second quarter of 2017.

According to Maersk Supply Service, there are options for two more vessels.

The Singaporean corporation confirms that barring any unexpected circumstances, the new contracts are not expected to have a material impact on the COSCO net tangible assets and earnings per share for the year ending Dec 31, 2014.

Image: MSS fleet