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COSCO Shipyard Group in bulker order bonanza

COSCO Shipyard Group in bulker order bonanza

Singapore: COSCO Shipyard Group has bagged $440m in bulker newbuilding orders. CSG majority shareholder COSCO Corp said COSCO Dalian Shipyard and COSCO Guangdong Shipyard Group had signed 11 contracts and four letters of intent with four undisclosed European shipowners to build 15 bulk carriers. The orders comprise 11 57,000 dwt supramaxes and four 82,000 dwt bulkers, and due for delivery from the end of 2011 through to mid-2013. COSCO Corp said the contracts would only become effective once initial deposits had been received from the shipowners. [15/06/10]

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