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Cosco books four bulkers for $108m

China Cosco's subsidiary Prosperity Investment 2011 Limited has booked four 64,000 dwt dry bulk carriers at Huangpu Wenchong shipyard.

Lee Hong Liang, Asia Correspondent

December 31, 2013

1 Min Read

Kalyakan - stock.adobe.com

The yard, a subsidiary of China State Shipbuilding Corp (CSSC), has valued the newbuilding at $27m each for delivery between 2015 to 2017.

Cosco said that the latest shipbuilding orders would help the company renew its dry bulk fleet.

Financially-weakened Cosco has also recently ordered four VLCC newbuilds from China Shipbuilding Industry Co (CSIC), with delivery slated in 2016.

Cosco has been struggling against a potential delisting from the Shanghai Stock Exchange after it posted three years of consecutive annual losses.

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.

See more from Lee Hong Liang

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