YINSON Holdings has selected a Chinese yard to deliver a floating production, storage and offloading vessel for deployment at the Parque das Baleias oil project offshore Brazil. Multiple industry sources told Upstream that Cosco Shipping Heavy Industry was chosen for the conversion job, ending a month-long battle with China's CIMC Raffles and Dubai-based Drydocks World. They said Yinson has signed a letter of intent with Cosco, but not yet a final commercial contract. "It is a 99% done deal, even though the final contract has not been signed," said a well-placed source.
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