Cosco Shipyard Group newbuilding contract pair become effective

Singapore: Two of the 15 bulker newbuilding contracts announced by Cosco Shipyard Group last week have now become effective. Majority shareholder Cosco Corp said the shipyard group had received initial deposits for two of the newbuildings inked last week making the contracts effective. Meanwhile Cosco Zhoushan delivered a 57,000 dwt bulker Ince Akendiz. [21/06/10]