The Board of Directors of COSCO Corporation (Singapore) Limited today announced that one of subsidiaries has entered into an agreement to build two Panamax bulk carriers.
Under the deal, COSCO (Zhoushan) Shipyard Co. Ltd. will build two 64,000 DWT bulkers for an Asian buyer. The contract is estimated to be worth over $54 million.
The two bulk carriers are scheduled for delivery in the fourth quarter of 2014.
Press Release, December 4, 2013