China’s rig manager SinoOcean has taken ownership of an accommodation barge built by COSCO Shipping Heavy Industry.

An agreement signed between SinoOcean, COSCO, BAO Provider of France and AOS Cyprus last week is the first step for potential charter of the accommodation platform African Provider, built by COSCO initially for BAO Provider.

The new agreement has enabled COSCO to cancel the original engineering, procurement and construction contract signed with BAO Provider in 2014 and will pave way for further negotiation between SinoOcean, BAO Provider and AOS Cyprus for chartering the unit.