COSCO snaps two new contracts over US$55 mln

Two bulk carriers are expected to be delivered in September 2011 and March 2010, respectively.

COSCO Corporation (Singapore) Limited on Friday confirmed that COSCO (Guangdong) Shipyard Co. Ltd., a subsidiary of the company’s subsidiary, COSCO Shipyard Group Co. Ltd., has secured contracts amounting to over USD55 million to build two bulk carriers of 57,000 dwt each, according to a COSCO release.

The contracts are said to be effective after receipt of the initial deposits from the Asian ship owner.

The bulk carriers which will be built at COSCO (Guangdong) shipyards are scheduled for deliveries in September 2011 and March 2012, respectively.

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