Cosco's shipyard clinches new orders worth over S$1.8b

Cosco has secured new shipbuilding contracts worth over $1.8 billion for its shipyard in Zhoushan, China. One of the contracts is to build 12 new bulk carriers of 57,000 dead weight tonnes each. A second contract is for four pure car and truck carriers that can carry 5,000 vehicles each. Both contracts are worth a total of S$1 billion. They were awarded by a sister company, Cosco International Ship Trading. The ships are to be delivered between December next year and October 2009. The company has also won contracts to build 14 bulk carriers of 57,000 dead weight tonnes each for various shipowners from Turkey, Portugal, Greece and India. These contracts are worth S$808 million. The ships are to be delivered between August next year and March 2010.