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COSCO Shipping confirms $310m order

COSCO Shipping confirms $310m order

Guangzhou: COSCO Shipping has confirmed an order of ten 27,000 dwt multi-purpose vessels from CSSC Guangzhou Huangpu Shipbuilding. and Taizhou Kouan Shipbuilding costing a total of around US$310m. The Guangzhou specialist vessel affiliate of China's largest shipping firm said the deal is its largest order ever. The ships will start delivering from June 2011. According to its latest business plan at least another eight ships are set to be ordered as the cash rich, Shanghai-listed company takes advantage of low newbuild costs at present. [02/04/10]

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