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>


<< May 2019 >>
29 30 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 31 1 2

GreenTech in Shipping USA Forum 2019

GreenTech in Shipping USA Forum is an event for Maritime leaders who want to unlock successful business formula of the industry!

read more >

CWC World Gas & Power Series – Brazil & the Americas Summit

CWC World Gas & Power Series: Brazil & the Americas Summit is the perfect meeting place to make contacts…

read more >

FPSO Brazil Congress 2019

Charging ahead with 24 planned orders by 2022, Brazil has once again solidified its status as one of the world’s foremost oil and gas leaders…

read more >

Nor-Shipping 2019

Nor-Shipping’s conference and event programme is tailored to deliver the knowledge, value and networking to help you build your business.

read more >