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Cosco steers ahead

Beijing: Cosco is looking to significantly ramp up its car carrier fleet having recently secured signed 15-year contracts with 17 different Chinese car manufacturers. Cosco currently owns six roros built in the 1980s. Cosco said the deals "will help to accelerate co-operation between domestic auto makers and shipping carriers, creating benefits to the growth of China's auto industry". China became a net car exporter for the first time last year. An obvious location for Cosco to up its roro fleet is its joint venture yard in Nantong, currenly the nation's premier car carrier builder.  [21/08/06]

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