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 worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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