CSCL In $750 Million Buying Spree
HONG KONG (Dow Jones)–China Shipping Container Lines Ltd. (2866.HK) said Friday it entered in deals worth US$754.2 million to buy eight new container ships with delivery by November 2013.
The Hong Kong-listed company said it is buying four ships from China Shipbuilding & Offshore International Co. and Dalian Shipbuilding Industry Co. It will also buy four ships from China Shipbuilding Trading Co. and Hudong-Zhonghua Shipbuilding (Group) Co. All eight ships have a capacity of 10,000 twenty foot-equivalent-unit.
China Shipping said it also has an option to buy an additional two container ships each from the two agreements.
-By Hong Kong Bureau, Dow Jones Newswires
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