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.
