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China Cosco scraps four vessels at a lossChina Cosco scraps four vessels at a loss

China Cosco Group has sold four ships last month as part of the group’s fleet renewal plan.

Lee Hong Liang, Asia Correspondent

May 14, 2015

1 Min Read
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During April this year, the state-owned shipping conglomerate disposed of two container vessels and two dry bulk carriers with a total tonnage of 261,800 dwt.

The disposals fetched a price of RMB65m ($10.5m) but led to a book loss of RMB59m.

The ships were owned by Cosco Bulk Carriers and Cosco Container Lines.

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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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