Cosco agrees with Asian client to delay jack-up delivery

Chinese offshore rig builder Cosco has agreed with an Asian client to delay the delivery of a newbuild rig by a year. 

Cosco’s Dalian shipyard secured a contract valued over $180 million from an unnamed Asian company to build a jack-up drilling rig in October 2013. The rig was initially scheduled for delivery in the third quarter of 2015.

Cosco informed on Friday that the owner and Cosco Dalian have mutually agreed to extend the delivery date of the rig from March 30, 2017 to March 30, 2018. The company explained that the extension was agreed upon taking into account the current unfavorable international marine market conditions.

The shipbuilder noted that due to the uncertainty as to when the owner will take delivery of the rig, it is not possible to ascertain the financial impact of the agreement for rescheduling at this point in time.

Offshore Energy Today Staff

Share this article

Follow Offshore Energy Today

Posted on January 6, 2017 with tags .

Events>

<< Jun 2019 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30

Shanghai Int Petrochemical and Offshore Oil & Gas and Chemical Industry Technology and Equipment Exhibition 2019

cippe Shanghai has attracts both domestic and overseas buyer groups, including Shell, Exxon Mobil, Total…

read more >

OIL & GAS PHILIPPINES 2019

Oil & Gas Philippines event display products like Oil & gas, fire protection systems and materials…

read more >

Nigeria Oil & Gas Conference & Exhibition 2019

The annual meeting once again proved to be a great success, gathering over 700 industry professionals…

read more >

08th OIL & GAS AFRICA 2019 CONFERENCE

OIL & GAS AFRICA is one of the most prime regional & international Oil and Gas conferences in East Africa…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply