Cosco scraps more ships as part of fleet renewal

The fleet renewal process continues at China Cosco Holdings, as the company, according to several media outlets, has scrapped 17 ships since the summer. The company is also looking to raise capital and has placed orders for new ships.

BY KATRINE GRØNVALD RAUN

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.

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