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Delivery of the above four vessels are expected to commence from first half of 2014. In addition, within six months, the ship owner has an option to declare up to another four contracts for the construction of the same UT771CDL PSVs,which has a value of approximately US$119.2 in total. The Company will make announcements as and when the shipbuilding contracts subject to such option are declared effective. None of the directors or controlling shareholders of the Company has any interest, direct or indirect in the contracts. As at the date hereof, the above four contracts that have been declared effective are not expected to have a material impact on the net tangible assets and earnings per share of the Company for the year ending 31 December 2012. Cosco Corporation (Singapore) Limited, press release |
