Corporate digest

Cosco Corp

COSCO Corporation said that a unit of its shipyard subsidiary has agreed with a client to delay the delivery of two jack-up rigs under unfavourable international marine market conditions.

Cosco (Dalian) Shipyard Co, a subsidiary of Cosco Shipyard Co, reached a mutual agreement with Bermuda-based rig owner Northern Offshore Ltd to extend acceptances of two jack-ups, Energy Engager and Energy Encounter, to the end of September 2017 and the end of March 2018, respectively. Deliveries of the two rigs will also be deferred until further notice.