Hong Kong: This weekend Cosco signed off on what will go down as one of the largest cumulative ship orders ever. China's largest shipowner inked a total of 66 ship contracts to be placed at four domestic shipyard groups while attending the Boao Forum in Hainan on Saturday.
Zhang Fusheng, a COSCO spokesman, did not disclose the total value of these shipbuilding contracts but said they summed up to a record amount for the shipping giant.
The 66 ships - including container ships, bulk cargo ships, oil tanker and car carriers - will have a total deadweight tonnage of 5. 14 million.
They will be built by four domestic firms, including China Shipbuilding Industry Corp., COSCO Shipbuilding Industry Co. and COSCO Shipyard Group, and will be delivered between 2008 and 2010.
COSCO currently owns 740 ships, with a total loading capacity of 46 million dwt. The shipping conglomerate has a tradition of placing significant orders for ships while staying on Hainan Island. [23/04/07]
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