China COSCO Set to Order New Ships

China COSCO Holdings Company Limited, a subsidiary of COSCO Group, is going to order nine new vessels, thus improving the capacity of its boxship and bulker fleets.

At the 24th session of the 3rd directorate meeting held recently, the company approved the proposal of ordering four 64,000 dwt handy-size bulk carriers and five 9400TEU containerships.

Despite being absent from the newbuild market since 2011, the resolution to order new ships was passed almost unanimously.

Further announcement on the price and vessel particulars will be revealed after the contract is signed.

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SBT Staff, December 25, 2013