Cosco (Dalian) Shipyard, subsidiary of China’s state-owned Cosco Shipyard Group, has secured a contract valued over $470m to build four subsea supply vessels for Maersk Supply Service, part of the AP Moller-Maersk Group.

The contract comes with an option for Maersk Supply Service to build an additional two subsea supply vessels.

The newbuildings are slated for delivery in the fourth quarter of 2016 and the first half of 2017.