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Cosco Corp issues profit warning, hit by one-off charge of $90 million from termination of Octabuoy project

SINGAPORE (Jan 9): Cosco Corp (S) has issued a profit warning for the FY14 ended Dec. The China-based shipbuilder and shipper said the company would show significantly lower earnings in FY14 compared to FY13. “This is mainly due to the steep fall in crude oil prices over recent months which has had an adverse impact on the global offshore marine industry and the one-off charge in respect of the Octabuoy hull and topside module project,” said Cosco in a regulator filing.

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Brand New FPSO Torn From its Moorings by Typhoon

Just one week after China Cosco Shipping Heavy Industry finished construction on BP's new Tortue FPSO, Typhoon Muifa slammed into the Yangtze Rive.

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FPSO embarks on its journey to Brazil with a few stops planned along the way

FPSO embarks on its journey to Brazil with a few stops planned along the way
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Yinson Names Brazil-Bound FPSO Anna Nery

Yinson and Sumitomo have named the Petrobras-bound FPSO Anna Nery during a naming ceremony held concurrently in Jiangsu, China, and Kuala Lumpur, Malaysia.

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Malaysia s Yinson names its first Brazil-bound FPSO

Malaysian FPSO operator Yinson and its project partner Sumitomo have officially named their newest asset, FPSO Anna Nery.

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