Cosco Corp and customer re-extend delivery date of rig

SINGAPORE (Sept 30): Cosco Corp announced that subsidiary Cosco Qidong Offshore and shipowner Axis Nova Singapore have agreed to re-extend the delivery date of a harsh environment semi-submersible accommodation rig.

The delivery date of the rig has now been extended a year to Aug 20, 2017 from July 16, 2016.

Under the new agreement, the shipowner can take delivery of the rig at any time during the extension, with 80 days prior notice according to the agreement. The shipowner also has the right to cancel the building contract as well and not take delivery of the rig, but must exercise the right before Aug 4 2017.

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