COSCO yard win Orders for Up to 10 New Ships

OSCO Shipyard Group, part of COSCO Shipping International (Singapore), has, through its subsidiaries, won contracts for up to ten new ships if all options are exercised.

These include a contract for four 82,000 tons bulk carriers secured by COSCO (Zhoushan) Shipyard.

The contract includes two options to build another four similar units.

The shipbuilder said the order has been placed by an undisclosed European owner. However, contract details indicate that Aegean Shipping Management is behind the order.

At the beginning of September, Greek tanker owner Aegean Shipping Management S.A. signed an order with Chinese Cosco Shipping Heavy Industry for up to eight 82,000 DWT Kamsarmax bulk carriers, thus venturing into the dry bulk sector.

The order comprises four firm and four optional ships in a 4+2+2 series to be constructed by Cosco Zhoushan shipyard, with deliveries scheduled for the second half of 2019 onwards.

As disclosed by COSCO, the parties have agreed to keep the contract price confidential.

In a separate announcement, it has been informed that COSCO (Dalian) Shipyard has entered into a shipbuilding contract with COSCO Shipping Specialized Carriers to build two multi-purpose pulp vessels with an option to build one other similar unit at an aggregate contract price of RMB 222 million.

The newbuilds are scheduled for delivery between the first and third quarters of 2019.

The shipbuilder added that the effectiveness of the contract is subject to the approval of the shipowner’s shareholders.

The effective dates for the first two vessels shall be no later than September 30, 2017 and the effective date for the vessel subject to the option shall be no later than December 31, 2017, the company said.7