COSCO to Scrap 13 Ships as Part of Fleet Restructuring Plan

coscoIn an exchange filing today, China COSCO announced their plans to scrap 13 ships, consisting of 4 container vessels totaling 11,207 TEU and 9 bulk carriers of 553,535 total DWT.

They note that this plan is part of an overall fleet restructuring plan, however they gave no further detail on what, if any, further restructuring may occur.