COSCO signs for 10 kamsarmax newbuilds

COSCO Shipping is pressing ahead with its massive newbuilding programme in the dry bulk segment.

The Chinese state-owned shipping giant has partnered up with Everbright Financial Leasing for 10 kamsarmax newbuilds, which will be built at Jiangsu Hantong Ship Heavy Industry.

Financial details and delivery dates for the 82,000 dwt vessels, which will be leased to companies owned by COSCO Shipping Bulk, have not been disclosed.

The latest deal follows COSCO’s largest shipbuilding order for 42 bulk carriers worth over $1.8bn, spread across its affiliated COSCO Shipping Heavy Industry and CSSC Chengxi Shipyard in September and eight newcastlemax newbuildings at Jiangsu Hantong in August.