Cosco receives giant state loan for newbuildings Cosco has received loans for USD 1.75 billion to finance 53 newbuildings in several segments aimed at replacing around 100 ships that have been scrapped. Photo: PR-foto BY OLE ANDERSEN Published: 19.01.15 at 15:22 China's state-owned carrier Cosco has secured loans for a total USD 1.75 billion from China EximBank to finance 53 newbuildings, according to several local Chinese media, reports Seatrade Global. Already a subscriber? Log in. Read the whole article Get access for 14 days for free. No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial. Access all locked articles Receive our daily newsletters Access our app First name: Last name: E-mail address: Password: I accept the terms and conditions An error has occured. Please try again later. Create trial Get full access for you and your coworkers. Start a free company trial today More from ShippingWatch Torm has carried crude oil to take advantage of elevated prices Rates on seaborne crude transportation have gone up due to new sanctions targeting Russia, prompting more product tanker operators, including Torm, to sail with crude oil. Danish carrier fights against claim from former US partner World Marine Offshore wants former partner’s major claim turned down in case about failed offshore wind agreement in the US. Russian response to embargo could make oil historically expensive It could have serious consequences for the world economy if Russia responds to Western sanctions by limiting its oil output, warns Jyske Bank. Oldendorff invests in maritime IT company founded by Synergy top exec Oldendorff Carriers has invested in a digital service provider assisting shipping companies with lowering carbon emissions. The company is founded by Synergy Group’s CEO. Norway aims to activate grid-scale offshore wind by 2029 ”I look forward to receiving input from the sector. We have no time to lose,” says energy minister upon opening the public consultation process for the two offshore wind sites. Print Print Increase text size Increase text size Decrease text size Decrease text size Further reading Russian response to embargo could make oil historically expensive Forwarders express concern about Maersk's dual role in sea freight and logistics Torm has carried crude oil to take advantage of elevated prices US passes new law preventing railway strike and chaos in supply chains Oldendorff invests in maritime IT company founded by Synergy top exec Related articles Cosco scraps more ships as part of fleet renewal China to allow private investors in shipping companies China places more yards on "white list"