Greater China

Cosco plans to order more ships

Shanghai: Cosco Group announced that it will have a shareholder’s meeting on August 28, at which it will discuss the proposals of ordering five 14,000 teu containerships and six 81,600 dwt bulkers.

Cosco has just ordered a total of ten bulkers at two domestic shipyards and disposed of eight old vessels.

Cosco returned to profit in the fiscal year of 2013 and avoided delisting through selling a number of assets. It kicked off a belated fleet optimisation plan at the end of 2013 and has made a series of newbuild orders as well as plans to scrap 41 vessels this year. [16/07/14]

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