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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.

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