Two Cosco shipyards have managed to obtain and secure effective contracts regarding the building of two vessels with a total value of roughly $160m.

Cosco (Zhoushan) Shipyard will construct one 152,000-DWT shuttle tanker that was ordered by a European company.

Cosco (Zhoushan) Shipyard

Cosco (Zhoushan) Shipyard: Image by cosco-shipyard

The newbuild shuttle tanker is set for delivery in the first quarter of 2017 if everything goes according to plan.

Meanwhile, Cosco (Dalian) Shipyard has also issued confirmation regarding the construction of one 21,000-DWT module carrier again for a European company, with the delivery date scheduled for the first quarter of 2017 as well.

Both shipyards are subsidiaries of the state-owned Cosco Shipyard Group.