While announcing its annual results today COSCO Shipping revealed it has set aside up to 3.9bn yuan to buy 18 new multi-purpose and heavylift ships. The firm, COSCO's specialist and heavylift subsidiary based in Guangzhou, has two 50,000 dwt semi-submersible vessels due to deliver shortly.
COSCO Shipping managed to stay in the black in 2009, recording a net profit of 136m yuan, down 90.64% over 2008 with revenues of 3.9bn, down 43.46%.
The company is odds on to order at its sister firm, COSCO Shipyard, when it comes to placing the 18 ship orders.
COSCO Shipping managed to stay in the black in 2009, recording a net profit of 136m yuan, down 90.64% over 2008 with revenues of 3.9bn, down 43.46%.
The company is odds on to order at its sister firm, COSCO Shipyard, when it comes to placing the 18 ship orders.