<div class=newsTextDataWrapInner><p>SINGAPORE (April 1): Cosco Corp has hit yet another roadblock.</p></div>

<div class=newsTextDataWrapInner><p>Its subsidiary Cosco (Dalian) Shipyard has received a request from a ship owner to push back the delivery of two drilling rigs.</p></div>

<div class=newsTextDataWrapInner><p>The rigs were part of three projects Cosco secured in November 2013 worth more than US$380 million.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>They were initially scheduled to be delivered in 1H2016 and 2H2016 respectively. The buyer had an option to order an additional two rigs.</p></div>

<div class=newsTextDataWrapInner><p>"Cosco Dalian acceded to the rescheduling of the delivery of the drilling rigs upon the request of and after negotiations with the ship owner," Cosco said in a statement today.</p></div>

<div class=newsTextDataWrapInner><p>The rigs will now be delivered in December next year and June 2017 respectively.</p></div>

<div class=newsTextDataWrapInner><p>The delay is not expected to have a material impact on its 2015 earnings, according to Cosco.</p></div>

<div class=newsTextDataWrapInner><p>The company said in January it had trouble finding a buyer for a rig it had been building for ATP Oil &amp; Gas, which is no longer in business after having run into financial difficulties.</p></div>

<div class=newsTextDataWrapInner><p>Cosco stopped the project midway and took a $90-million charge on its 2014 financials</p></div>


SINGAPORE (April 1): Cosco Corp has hit yet another roadblock.

Its subsidiary Cosco (Dalian) Shipyard has received a request from a ship owner to push back the delivery of two drilling rigs.

The rigs were part of three projects Cosco secured in November 2013 worth more than US...

Cosco Corp to delay delivery of two rigs

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