Cosco Corporation (Singapore) Limited reported Monday that Cosco (Guangdong) Shipyard Co. Ltd., a unit of the company's 51 percent owned subsidiary Cosco Shipyard Group Ltd., has clinched a of $60 million contract to build two platform supply vessels.

The order for the two platform supply vessels (PSVs) was from a Singapore-based company, which exercised an option to build up to six PSVs as agreed in the contract inked in September 2013, when the latter ordered two similar vessels.

The "two option contracts, awarded to COSCO (Guangdong) Shipyard Co.  have been declared effective," Cosco said in a press release.