COSCO scraps 16 vessels in first quarter

Shanghai: COSCO Group announced that it has scrapped 16 vessels, made up of 12 containerships from COSCON and four bulk carriers from COSCO Bulk Carriers, in the first quarter as part of its fleet optimization plan. COSCO earlier announced plans to scrap a total of 41 vessels for the year. Total price for selling the 16 vessels was RMB466m. [25/04/14]

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