Beijing - COSCO has unveiled a sweeping $1.75bn newbuilding programme covering 29 ships, as the state-controlled group continues to refresh and expand its fleet across key sectors.
The investment package includes 23 kamsarmax bulk carriers and six very large crude carriers (VLCCs), all to be built at domestic shipyards and scheduled for delivery between 2027 and 2028.
According to filings by COSCO Shipping Development, the financing arm of China’s state-controlled shipping giant, COSCO Shipping Heavy Industry (Dalian) will build the 87,000 dwt bulkers under contracts worth around RMB7.34bn ($1.03bn . . .
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