Cosco orders 10 bulkers for $262m at Chinese yards

China Cosco has ordered 10 bulker newbuildings at Chinese yards for a total of $262.5m.

China Cosco has is buying eight bulkers from CSSC Shipbuilding’s China Shipbuilding and Chengxi Shipyard. The deals comprise four 38,800 dwt bulkers for $99.2m and 63,800 dwt bulkers for $114.4m for delivery in 2016 and 2017. The company also ordered two 38,500 bulkers from CSIC Shipbuilding for $49.5m to be delivered in 2016.

“The company entered into the shipbuilding agreements in order to upgrade the fleets of bulk carriers of the group and improve the competitiveness of its fleet as a whole,” the company said.
Source: Seatrade Global