Chinese yard Cosco Corp (Singapore) has reported bigger losses in the third quarter of the year amid “difficult market conditions” and it warned of tougher times ahead as it sees no signs of a turnaround anytime soon.
At the end of September, Cosco’s gross order book stood at approximately US$6.8 billion with progressive deliveries up to 2019, including US$1.3 billion-worth of drillship modules and floating production, storage and offloading contracts for Brazilian customers.
