COSCO Orders Five Boxships at Changxing

COSCO Asset Management, a Hong Kong-based subsidiary of China COSCO Holdings Company Ltd, signed today a deal with China Shipbuilding Trading and Changxing Shipbuilding for the construction of five 9,400 TEU container vessels.

Each vessel is priced at $86,900,00, bringing the total value of the purchase to $434,500,000. Delivery of the vessels is expected to start in 2016 and continue through 2017.

COSCO is pursuing a fleet modernization campaign, focusing on its container vessels and bulk carriers, the objective being better competitiveness of the fleet as a whole.

In that respect, on 30 December 2013, COSCO’s subsidiary Prosperity Investment, located in the British Virgin Islands, entered into four shipbuilding contracts with China Shipbuilding Trading and CSSC Huangpu Wenchong for the construction of four 64,000 metric tons deadweight bulk carriers.

The price tag for each vessel amounts to $27,000,000, and the aggregate consideration for the four vessels  is $108,000,000. The vessels’ delivery is expected to take place from 2015 to 2017.

 

Press Release, January 28, 2014

 

Share this article

Follow World Maritime News

Posted on January 28, 2014

In Depth>

Events>

<< Sep 2019 >>
MTWTFSS
26 27 28 29 30 31 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 1 2 3 4 5 6

The Smart Ship Exchange

The Exchange will look at the issues involved with increasing autonomy in shipping with an introduction to the concept…

read more >

3rd MarSat Workshop

The MARSAT project wants to operationalise and standardise EO products and aims to develop…

read more >

Global Sustainable Shipping Forum 2019

The event will provide valuable insights from conference sessions, great networking opportunities and will offer…

read more >

OEE Conference & Exhibition 2019

OEE2019 is organised by Ocean Energy Europe, the industry association representing ocean energy in Europe.

read more >