COSCO Corporation (Singapore) Limited said that its affiliate COSCO International Ship Trading Co Limited has agreed with COSCO (Zhoushan) Shipyard Co Limited on the cancellation of their contracts for two 5,000 unit pure car and truck carriers.
The PCTCs are the third and fourth of the four new buildings COSCO International Ship Trading ordered from COSCO (Zhoushan) in 2007 for delivery between 2009 and 2010.
The contract price of each vessel was USD 52.5 million. COSCO International Ship Trading has agreed to pay to COSCO (Zhoushan) a total of USD 10.3 million in compensation. The shipyard will continue work on the first two vessels to have them completed after December 2009 as planned.
The PCTCs are the third and fourth of the four new buildings COSCO International Ship Trading ordered from COSCO (Zhoushan) in 2007 for delivery between 2009 and 2010.
The contract price of each vessel was USD 52.5 million. COSCO International Ship Trading has agreed to pay to COSCO (Zhoushan) a total of USD 10.3 million in compensation. The shipyard will continue work on the first two vessels to have them completed after December 2009 as planned.