China's COSCO Shipyard Group ("CSG") has won orders worth $422 million. They include several high-value conversions and a $171.6 million contract from a Norwegian customer for two shuttle tanker newbuilds, plus options for two more.

The tankers are to be built at COSCO Nantong Shipyard and are expected to be delivered in 2010 and 2011. The 18 conversion contracts valued at US$250 million were secured by Cosco Nantong Shipyard, Cosco Dalian Shipyard, Cosco Zhoushan Shipyard and Cosco Guangzhou Shipyard.

They were awarded by customers from the Americas, China, Greece, Hong Kong, India and Korea, and cover