Cosco plans new ship orders

Beijing: China Cosco Holdings is considering newbuilding orders for around ten ships in the first half of next year, the largest newbuilding project for the company in recent times.

The company plans to use government’s subsidies for scrapping vessels to upgrade its fleet and use its large-sized fleet advantage.

“Currently, Cosco is in talks with several shipyards for the newbuilding projects, however, the details are still under negotiation," an insider told the Wall Street Journal. [12/12/13]

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