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 is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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