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CSSC bags $560m China Shipping order

CSSC bags $560m China Shipping order

Shanghai: China Shipping Container Lines (CSCL) has announced that it plans to order eight 4,250teu container vessels from China's biggest shipbuilder, China State Shipbuiding Corp (CSSC) for $559.8m, reports Reuters.

The new vessels, to be delivered between October 2011 and June 2012, will service long-haul routes to Europe, North America and the Mediterranean.

China Shipping will make payment in five installments with the initial payment of $14m due next week.  [12/06/08]