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Cosco down on rig delivery delays

Customer asks for nine-month postponement for 2 rigs

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Published Wed, Apr 1, 2015 · 09:50 PM

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    Near 11-year low

    Singapore

    SHARES of shipbuilder Cosco Corp slipped on Wednesday after it said that a customer had asked for two jack-up rig deliveries to be delayed nine months. Negotiations over an Iran oil deal may also have dampened the share price.

    The stock, which fell one Singapore cent, or 1.98 per cent, to 49.5 Singapore cents on 2.49 million shares traded, is hovering close to its lowest level in 11 years.

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