China Trade Information

China COSCO Holdings Co. Ltd. (COSCO), the second largest integrated shipping company in the world, announced on Wednesday that the company plans to spend about US$ 2.30 billion on new vessels in a bid to further consolidate its globally leading position in integrated shipping and logistics.

According to the company’s statement, it plans to order 25 new vessels, which will enable COSCO’s shipping capacity to grow by 106.8 TEUs and 2.033 million tons of deadweight.

Its three wholly-owned subsidiaries, namely COSCO Container Lines Co. Ltd, COSCO Bulk Carrier Co. Ltd. and COSCO (HK) Co. Ltd. will order eight container vessels with13,350 TEUs, nine bulk carriers with a deadweight tonnage of 57,000 tons and eight bulk carriers with a deadweight of 200,000 tons respectively.

Currently, China COSCO owns the largest dry bulk vessel fleet and the sixth largest container vessel fleet in the world.

Tags: Cosco, logistics

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