State-owned China Cosco Holdings continued its fleet renewal process in the second half of 2014. The company scrapped four container ships and 13 dry bulk vessels for a total value of USD 51.2 million in the period between September and December, reports Tradewinds, citing VesselsValue.com.
The ships correspond to 919,853 dwt and the scrapping realizes a loss of around USD 20 million, report the media. The last 17 ships mean that Cosco managed to scrap 39 vessels in 2014, according to Tradewinds.
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