Cosco Shipping Specialized Carriers is planning to raise funds of RMB3.5bn for leasing and construction of 30 vessels to meet the growing business demands and improve profitability, according to Seatrade.
The fund will be used to lease 29 multi-purpose pulp carriers, including twelve 62,000 tonne, twelve 70,000 tonne and five 68,000 tonne multi-purpose vessels, and build one 65,000 tonne semi-submersible vessel.
The company has inked a number of long-term contracts with Metsafibre and other international pulp companies which will increase the scale of its businesse and expand the market share. Meanwhile, the semi-submersible fleet of the company has been deployed on large-size projects which is expected to obtain stable profits.
As the end of 2022, Cosco Shipping Specialized Carriers and its subsidiaries owned and operated a fleet of 107 vessels.