Cosco orders 10 bulkers for $420m

The six 81,600 dwt vessels are to be built at Chengxi Shipyard for a total price of $188.8m, or $31.4m each, with delivery slated for 2016-2017.

Waigaoqiao Shipbuilding will build the four 208,000 dwt vessels which are priced at $57.9m each for a total of $231.6m, with expected deliveries in 2017.

The announcement follows orders for five 14,500 teu boxships for $618m placed a week ago. A deal was also struck with ore giant Vale that included an order of 10 VLOCs to be built in China.

The raft of newbuildings is part of a fleet renewal programme at Cosco to improve the competitiveness of its fleet, according to a release today.