Cosco Shipping wins two shipbuilding contracts

One of the contracts is worth $45.2m.

Cosco Shipping bags two new shipbuilding contracts through its 51% owned subsidiary COSCO Shipyard Group Co.

According to the first announcement, COSCO (Zhoushan) Shipyard Co., Ltd entered a contract with a European buyer for four units of 82,000-tonne bulk carriers.

Cosco Shipping also has the two options to build four similar units.

The price of the contract was not disclosed.

Meanwhile, COSCO (Dalian) Shipyard Co., Ltd (COSCO Dalian) also won a contract with COSCO SHIPPING Specialized Carriers Co., Ltd. to build two multi-purpose pup vessels for $45.2m (CNY222m).

Majority of the units in both contracts are slated for delivery in the third quarter of 2019.