New Container Vessels for COSCO

COSCO Entities have entered into shipbuilding agreements worth US$434.5 million with China Shipbuilding Trading and Changxing Shipbuilding for the construction of five 9,400 TEU container vessels.

New Container Vessels for COSCO

Under each agreement, the relevant COSCO Entity shall pay the consideration of US$86.9 million in installments, in accordance with the construction progress of the vessel.

Delivery of the vessels is expected to take place from 2016 to 2017.

COSCO Entities are wholly-owned subsidiaries of COSCO Asset Management, and hence wholly-owned subsidiaries of China COSCO Holdings Company Limited.

World Maritime News Staff, January 28, 2014; Image: Wikimedia

Related news

List of related news articles