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Cosco orders 10 bulkers for $420m

Cosco orders 10 bulkers for $420m
China Cosco Holdings has ordered six 81,600 dwt bulk carriers and four 208,000 dwt bulk carriers at Chinese yards.

The six 81,600 dwt vessels are to be built at Chengxi Shipyard for a total price of $188.8m, or $31.4m each, with delivery slated for 2016-2017.

Waigaoqiao Shipbuilding will build the four 208,000 dwt vessels which are priced at $57.9m each for a total of $231.6m, with expected deliveries in 2017.

The announcement follows orders for five 14,500 teu boxships for $618m placed a week ago. A deal was also struck with ore giant Vale that included an order of 10 VLOCs to be built in China.

The raft of newbuildings is part of a fleet renewal programme at Cosco to improve the competitiveness of its fleet, according to a release today.