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China Cosco getting rid of 13 aged vesselsChina Cosco getting rid of 13 aged vessels

China Cosco Holdings will get rid of 13 aged vessels as part of a move to restructure the company's shipping fleet.

Lee Hong Liang, Asia Correspondent

August 12, 2013

1 Min Read
Kalyakan - stock.adobe.com

China Cosco announced to the Hong Kong Stock Exchange that it will decommission and disassemble 13 old ships, including four container vessels totalling 11,207 teu and nine dry bulk carriers totalling 553,535 dwt.

The names of the vessels were not disclosed.

It added that the approved restructuring plan is not expected to have “any material impact on the business and financial condition of the company.”

About the Author

Lee Hong Liang

Asia Correspondent

Singapore-based Lee Hong Liang provides a significant boost to daily coverage of the Asian shipping markets, as well as bringing with him an in-depth specialist knowledge of the bunkering markets.

Throughout Hong Liang’s 14-year career as a maritime journalist, he has reported ‘live’ news from conferences, conducted one-on-one interviews with top officials, and had the ability to write hard news and featured stories.

 

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