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COSCO Shipping Specialized Carriers acquiring seven bulk carriers

COSCO Shipping Specialized Carriers A COSCO Shipping Specialized Carriers vessel
COSCO Shipping Specialized Carriers is to purchase seven bulk carriers from COSCO Shipping (Xiamen) at a total cost of RMB908m ($133.9m).

Two of the vessels are 32,000dwt timber carriers and the remaining five are 35,000 dwt general bulk carriers.

In recent years, the company has ordered and chartered a batch of multi-purpose special carriers and weeded out old vessels. Although the special cargo transportation market is likely to decline in the short term, the company believes it still has bright development prospect. The investment in these seven vessels will support the company to further integrate market resources and improve fleet profitability, according to COSCO Shipping Specialized Carriers.

The seven vessels will be deployed on West Africa and South America services. 

TAGS: Asia