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Cosco scraps eight older vessels

Cosco scraps eight older vessels
Cosco is continuing with its scrapping programme, disposing of eight older vessels in January.

Cosco said in a stock market announcement that these included five container vessels - Hutuo He, Xinhui He, Zhaoqing He, Yangjiang He and Yongding He - and three bulk carriers - Peng Jie, Peng Nian and Peng Cai - with an aggregate capacity of 257,657 dwt.

The vessels were sold to different third parties for scrap for approximately RMB82.2m ($13.3m). Cosco said it recognised losses from the disposal of approximately RMB182.2m.