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Cosco down on rig delivery delays
Customer asks for nine-month postponement for 2 rigs
Add BT as a preferred sourcePublished Wed, Apr 1, 2015 · 09:50 PM
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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