Shanghai: State run shipping conglomerate Cosco announced that it has signed shipbuilding agreements with Shanghai Jiangnan Changxing Shipbuilding for the construction of five 14,500 teu containerships.
The price for each vessel is $123.6m. Deliveries are scheduled in 2017 and 2018.
Cosco said the move is to optimize its container fleet structure.
Cosco has spent $1.05bn in total for the construction of 21 new vessels in the past four months, including four 64,000 dwt bulkers, two 78,000 dwt bulkers, four 38,800 dwt bulkers, four 63,800 dwt bulkers, two 38,500 dwt bulkers and five 14,500 teu containerships. [18/09/14]