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Coscol exercises options for two heavy lift vessels

State-owned Cosco Shipping Limited (Coscol) has exercised options for two 28,000 dwt heavy lift vessels at Shanghai Hudong-Zhonghua Shipbuilding.

Lee Hong Liang, Asia Correspondent

March 17, 2015

1 Min Read

Kalyakan - stock.adobe.com

The newbuildings are scheduled to be delivered in April and August of 2018.

The declared options are on top of the four 28,000 dwt heavy lift vessels that Coscol confirmed at Hudong-Zhonghua and Shanghai Shipyard in January at a price of RMB290m ($46.4m) each.

In January, Coscol raised RMB2.5bn through a private placement so as to finance newbuildings as well as to pay off debts and boost working capital.

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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