COSCO Orders New Containerships

coscoCOSCO Holdings announced today the placing of a newbuild order with Shanghai Jiangnan Changxing Shipbuilding Co. Ltd, for five, 9,400 TEU containerships.

The order comes at an aggregate cost of $434.5 million, or $86.9 million per vessel.

Deliveries are expected between 2016 to 2017.