China Shipbuilding Trading and Chengxi Shipyard received an order today from Prosperity Investment, a wholly-owned subsidiary of China COSCO for eight new bulk carriers. Four of the ships will be 38,800 dwt and another four will be 63,800 dwt and come at a total consideration of USD $99,200,000 and USD $114,400,000, respectively.
In addition to the above orders, COSCO also placed an order with Shanhaiguan Shipbuilding for two 38,500 dwt bulkers for a total consideration of USD $49,500,000.
Deliveries of the eight ships from Chengxi Shipyard is planned for 2016 and 2017 and the two from Shanhaiguan Shipbuilding is planned for 2016, according to China COSCO.
China COSCO notes these newbuild agreements were signed “in order to upgrade the fleets of bulk carriers of the Group and improve the competitiveness of its fleet as a whole.”