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Cosco Shipping Development seals $5m technical services deal for Cosco boxship newbuilds

Cosco Shipping Development seals $5m technical services deal for Cosco boxship newbuilds
Cosco Shipping Development Company has signed a technical services agreement Cosco Shipping Lines for the supervision of six 21,000 teu and eight 13,500 teu newbuildings for a total of RMB34.4m ($5.2m).

The company said in a stock market announcement that the work, which would involve some 826 man-months of supervision technical services, could take longer and result in more payment.

The company will provide on-site staff to supervise implementation of the  relevant  shipbuilding  contracts  and  drawings; conduct quality  inspection  on  the  storage,  assembly, manufacturing,  testing  and  other  aspects  of  the  production process  of  the  shipbuilder  and  its  subcontractors; and prepare supervision  reports  and  daily  records  as  required by Cosco Shipping Lines, it said.

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