Online

FSO is snatched from Modec grasp

An 11th hour bid by Vietnamese state-owned shipyard Vinashin has robbed Japanese giant Modec of a contract to provide a 1 million-barrel floating storage and offloading vessel for Vietnamese-Russian joint venture Vietsovpetro's (VSP) Rong (Dragon) oilfield in the Cuu Long basin.

Likeness: the new unit will be similar to the Bavi floater it will replace Photo: TRADEWINDS
Likeness: the new unit will be similar to the Bavi floater it will replace Photo: TRADEWINDS
Published 20 October 2006, 00:33Updated 27 June 2012, 11:38