Cosco Secures $440m in European Building Contracts

17 June 2010 (Last Updated June 17th, 2010 18:30)

Cosco has signed $440m worth of shipbuilding contracts with four European ship owners to build 15 bulk carriers. The new build contracts were signed by Cosco Dalian Shipyard and Cosco Guangdong Shipyard and include three new supramax orders by Greek company Dynacom and Seatraders.

Cosco has signed $440m worth of shipbuilding contracts with four European ship owners to build 15 bulk carriers.

The new build contracts were signed by Cosco Dalian Shipyard and Cosco Guangdong Shipyard and include three new supramax orders by Greek company Dynacom and Seatraders.

The bulk carriers contract includes four bulk carriers of 82,000dwt each and 11 bulk carriers of 57,000dwt each, reports Reuters.

The Singapore-listed shipbuilder signed 11 contracts and four letters of intent for the bulk carriers.

The vessels are expected to be delivered between the end of 2011 and mid 2013.