Cosco disposes of four vessels

Cosco disposes of four vessels

Shanghai: China’s Cosco Group has announced that it has sold four vessels with a total capacity of 261,800dwt for scrapping as part of the group’s fleet optimization plan.

The four vessels include two bulkers from Cosco Bulk Carriers and two boxships from Cosco Container Lines (CSCL).

Total disposal price of the vessels is RMB65m ($10.5m), realising a RMB59m ($9.5m) loss for the group.

Cosco said the average age of the fleet has dropped from 14.2 years to 10.4 years in the past two years.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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