Bulkers for Cosco Guangdong Shipyard

Mainboard-listed Cosco Corporation said its unit Cosco Guangdong Shipyard has secured contracts valued over US$55 million to build two bulk carriers. The carriers of 57,000 dead weight tonnes each are scheduled for deliveries in September 2011 and March 2012 . Cosco said the contracts are effective, following receipt of the initial deposits from the Asian ship owner.  The deals not expected to impact Cosco's earnings for the current financial year.