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Cosco in huge scrapping round following acquisitions

China Cosco Holdings Company has plans to scrap eight ships. The announcement comes shortly after the carrier decided to buy 10 new vessels.

China Cosco Holding has sold eight ships for scrapping in the second quarter, the company announces in a press release.

The four vessels include four container ships and four dry cargo ships, and the total selling price is CNY 124.4 million, which gives the carrier a one-time loss of CNY 35.3 million.

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