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.

BY KATRINE GRØNVALD RAUN

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.

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