Ship&Offshore | Issue 10/2024
Cosco orders 42 bulkers for USD 2 billion
Acquisition strategy | Cosco Shipping Development has signed an investment, construction and leasing agreement for 42 new bulk carriers at a total cost of just over USD 2 billion. A subsidiary of Cosco Shipping Heavy Industry will build 20 ships, while 22 other vessels will be built by CSSC Chengxi. In China’s currency, the value of the deal is RMB 14.1 billion. The package consists of 35 bulkers of 80,000dwt, five of 64,000dwt, and two of 82,000dwt. The ships will be delivered during 2026 and 2027 and leased on long-term contracts to Cosco Shipping Bulk....