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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

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.

China awards four carriers state subsidies for scrapping

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