COSCO in Deal to Build $517 Mln Container Ships

China COSCO Holdings Co. Ltd. said on Tuesday it would spend US$516.8 million to build eight container ships, aiming to satisfy demand and maintain competitiveness.
Each ship would be able to carry the equivalent of 5,100 twenty-foot containers.

The company, China’s largest container shipping firm, said in a statement that Jiangnan Shipyard (Group) Co. Ltd., a unit of China State Shipbuilding Corp. Ltd., would build the ships.