Singapore: Cosco Corporation (Singapore) secured a contract valued over $220m from an Asian company to build two self-propelled pipelay heavylift offshore construction vessels.

Cosco (Nantong) Shipyard, a subsidiary of Cosco Corp\'s 51% owned subsidiary Cosco Shipyard Group, will delivery the first vessel in the fourth quarter of 2013.

The second vessel will be delivered in the first quarter of 2014.