Cosco sells five boxships for scrap

Cosco sells five boxships for scrap

Cosco Holdings has announced the sale of five containerships for scrapping as part of its fleet optimization plan.

The total sales price for the vessels is RMB90m ($13.5m) and Cosco said the sale has resulted in a net loss of RMB341m ($51m).

The five vessels Na Xi He, Bu Yi He, Yu Gu He, Ha Ni He and Jing Po He have a total capacity of 224,560dwt and used to serve in Cosco subsidiary Shanghai Pan Asia Shipping.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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