China Cosco confirms billion dollar order for mega ships

China Cosco Holding now confirms the order for a  series of ultra-large container ships, and the group signed a deal with Chinese yards worth more than USD one billion.

Photo: PR-foto

Yet another container carrier joins the field with the major ultra-large container ships (ULCS) being deployed on the key Asia-Europe trade these years. One of China's biggest carriers, Cosco, now finally confirms that it has ordered 11 container vessels of 19,000 teu each, according to several media. The deal is worth USD 1.5 billion, Cosco notified to the Hong Kong Stock Exchange on Wednesday, reports Bloomberg.

The new ships will be built at various Chinese shipyards and are all of them set for delivery in 2018. Two of the ships will be built at yard Dalian Cosco KHI Ship Engineering and four at Nantong Cosco KHI Ship Engineering. Cosco pays USD 135.3 million per ship. Three will be built at Waigaoqiao Shipbuilding for USD 139.5 million per vessel, and Dalian Shipbuilding will receive the same price for the last two vessels.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Further reading

Related articles

Latest news

See all jobs