COSCO Shipping Reshuffles Newbuilding Orders

China’s COSCO Shipping Company Limited (COSCOL) has decided to upgrade three from a total of seven heavy lift vessels currently under construction at Shanghai Shipyard.

Under the letters of intent signed between the parties, the shipping firm said it would increase the capacity of two existing newbuildings from 28,000 dwt to 36,000 dwt ice-class multi-purpose vessels.

The company said it will also increase the capacity of a third 28,000 dwt vessel on order at the shipyard by its subsidiary Shanghai Jia Ze Barge Ship Leasing Co.

The price for each vessel is CNY 241.7 million (USD 36.3 million), amounting to a total of CNY  725 million for the trio.

The three ships are scheduled to join their owner starting from October to December 2017.

World Maritime News Staff

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