Cosco contracts shared by KHI

Kawasaki Heavy Industries (KHI) in Japan plans to share an order for seven post-panamax container ships from China Ocean Shipping Company (Cosco) with Natong Shipyard in China, the joint venture between KHI and Cosco.

Under the terms of the seven-ship deal, which also includes an option for three more vessels, KHI will build five of the 25-knot ships, and Nantong Shipyard will build two, thus making its debut as a builder of post-panamax boxships.

That Nantong will build the post-Panamax ships is doubly interesting, as no other Chinese yard has so far built vessels of this type.

If the options on the contract for the 5,250 TEU newbuildings are taken up, the value of the contract could rise to approximately $600 million.