Cosco Wins Huge Contract With TengizChevrOil
China’s Cosco Shipping has been awarded a major transportation and logistics contract by a large Kazakhstani oil and gas partnership.
Cosco will be responsible for transporting modules weighing up to 1,800 tonnes from fabrication yards in Korea and Europe to transshipment bases in the Black and Baltic seas.
Transport volumes will significantly increase to the ports of Burgas, Bulgaria and Hamina, Finland with ultimate delivery to western Kazakhstan through the Russian inland waterway systems by other carriers.
Cosco says it will be using a fleet of 18 semi-submersible vessels and deck carriers to perform about 60 shipments beginning in 2018 and completing in about 2020.
Part of the work under the contract will be subcontracted to Coscol’s Korean partners, namely Dongbang Transport Logistics, Hanjin Transportation, CJ Korea Express and Chung Yang Shipping.
HLPFI assumes this latest contract award is associated with the Tengizchevroil (TCO) FGP project in Kazakhstan.
Just last week, HLPFI reported that TCO exercised an option for two additional module carrier vessels (MCVs) for its TCO FGP project in Kazakhstan, in addition to the 15 that were announced in May this year that will be supplied by a consortium including Blue Water Shipping and Topaz Marine and Energy.
China Ocean Shipping (Group) Company (Chinese: 中国远洋运输（集团）总公司), known as COSCO or COSCO Group, is a Chinese shipping and logistics services supplier company. It is a government-owned company of the People’s Republic of China. Its headquarters is in Ocean Plaza in the Xicheng District in Beijing. It owns more than 130 vessels (with a capacity of 600,000 twenty-foot equivalent units (TEU)) and calls on over a thousand ports worldwide. It ranks sixth largest in number of container ships and ninth largest in aggregate container volume in the world. In 2012, it was among China’s top 15 brands.