Cosco Shipping Heavy fixes jackup rig deal with Selective Marine

Cosco Shipping Heavy Industry has fixed a newbuild jackup rig, abandoned at its Dalian yard, to UAE-based Selective Marine Services.

The deal was arranged by SinoOcean, the idle offshore asset management platform set up by the Chinese government. The rig was originally ordered by Indian owner Dynamic Drilling for an ONGC charter.

Delivery of the rig to Selective is scheduled for June.

Earlier this week, SinoOcean also arranged the sale of an accomodation vessel at Cosco Zhoushan yard to African Offshore Services.