COSCO signs Letter of Intent for semi-submersible accommodation vessel
2013-11-11 09:00
COSCO Shipping (Qidong) Offshore Engineering Co., Ltd. signed a Letter of Intent (LOI) with Norwegian company Prosafe for the engineering, procurement, and construction project of two state-of-the-art semi-submersible accommodation vessels (semi-submersible accommodation vessel).
Prosafe announced on the 7th (local time) that it ordered two DP3 semi-submersible accommodation vessels from COSCO Shipping (Qidong) Offshore Engineering Co., Ltd., which will adopt Gusto MSC's "Ocean 500" design.
Each new vessel is priced at over 200 million US dollars. The related LOI contract includes 2+2 optional orders, meaning this contract includes a series of up to 6 vessels. The relevant vessels will commence service from 2016 and will have over 500 beds.
Additionally, Prosafe will raise construction funds for the two new projects through existing and new loan programs, marketing cash flow, and other means. The company is a leader in the field of offshore semi-submersible accommodation vessels and equipment; last year its operating profit exceeded 222 million US dollars, and net profit reached 177 million US dollars.
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