Cosco

Cosco: its 51% owned Cosco Shipyard reports deliveries for a new build deep water semi-sub drilling rig to its Norwegian shipowner, and a bulk carrier of 57k dwt to its Asian buyer. The semi sub was delivered to Marine Accurate Well (Maracc), and its compatriot Odfjell Drilling is to operate the unit for Swedish player Lundin Petroleum to drill 12 wells off Norway starting next yr. The rig was originally due for delivery in May ’10 and was to be ready for operation in Nov ’10. Separately, Cosco also announced that Mr Ye Bin Lin, its CFO and alternate director has resigned. The co cited rotation of key mgt talent by the Cosco group among its business units. Mr Ma Hong Han has been appointed as a replacement.