COSCO Scraps Eight More

China COSCO Holdings Company Limited has disassembled eight vessels from its aged fleet, the  group said in a filing to the Hong Kong stock exchange.

The scrapped vessels include eight container ships (Hutuo He, Xinhui He, Zhaoqing He, Yangjiang He and Yongding He) and three bulk carriers (Peng Jie, Peng Nian and Peng Cai) that were disposed of during January.

The vessels, with the aggregate capacity of 257,657 deadweight tons, were disposed of as scrapped vessels to different purchasers, all of which are independent third parties of the company, at a total consideration of approximately RMB82.2 million, the filing said.

” The Board considers that the decommissioning of the vessels is conducive to enhancing the overall operational competitiveness of the shipping fleet of the company and is in the interest of the company and the shareholders as a whole,” COSCO said.

According to COSCO’s unaudited financial results for the month ended 31 January 2015, realized losses incurred from the disassembly of the vessels amounted to approximately RMB182.24 million

Share this article

Follow World Maritime News

Posted on February 13, 2015 with tags .

In Depth>

Events>

<< Nov 2019 >>
MTWTFSS
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

Salvage & Wreck

Salvage and Wreck Removal Conference will focus on Casualty management case studies, Dealing with hazardous cargo and container ship fires…

read more >

6th Mozambique Gas Summit & Exhibit

This year’s edition will have a revamped programme for attendees.

read more >

CrewConnect Global 2019

CrewConnect Global is the leading forum for collaboration to advance new industry approaches to seafarer recruitment and training.

read more >

CruiseConnect Global 2019

Attend CrewConnect Global and stay on for the CruiseConnect Summit to take part in an industry-wide conversation focused…

read more >