COSCO ordered five 14500 TEU container ships
2014-09-18 09:00
On the evening of September 17, COSCO announced that five single-ship companies under COSCO Asset Management Co., Ltd., a subsidiary of the company, as buyers, signed five shipbuilding agreements with China Shipbuilding Industry Trading Co., Ltd. and Shanghai Jiangnan Changxing Shipbuilding ( Location Comment News Co., Ltd. as joint sellers on September 17, 2014. The agreement stipulates that Changxing Shipyard ( Location Comment News will build, launch, equip, and deliver five 14,500 TEU container ships for five single-ship companies, with each ship priced at US\$12.36 million, payable in installments according to the shipbuilding progress. The total consideration for the five agreements is US\$61.8 million. Delivery is expected in 2017-2018.
The five single-ship companies are: COSCO ZHENGZHOU SHIPPING LIMITED, COSCO HAERBIN SHIPPING LIMITED, COSCO CHANGCHUN SHIPPING LIMITED, COSCO SHENYANG SHIPPING LIMITED, and COSCO SHIJIAZHUANG SHIPPING LIMITED.
The company stated that the signing of the shipbuilding agreement through its subsidiaries aims to optimize the company's container fleet structure and enhance the overall competitiveness of the fleet.
It is understood that in June this year, COSCO invested US\$175.62 million to order four 64,000-dwt bulk carriers ( Ship type Shipyard Trading and two 78,000-dwt bulk carriers. In July, it ordered four 38,800-dwt and four 63,800-dwt bulk carriers for US\$213.6 million, and two 38,500-dwt bulk carriers for US\$49.5 million.
According to this calculation, in the past four months, COSCO's investment in new ships has reached a total of US\$1.05672 billion, or approximately RMB 6.488 billion.
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