COSCO Shipyard completes new facility

COSCO Shipyard Group, a major Chinese repair-yard, has constructed a new facility in Dongguan, Guangdong province. The facility will be utilized to build ships up to 100,000 dwt in addition to repair works. It will be the third of the group’s five repair yards to engage in newbuildings since the start of this year. The new yard was built at a cost of $137 million and covers an area of 400,000 sq.m. In August 2007, the yard received orders for eight 57,000 dwt bulkers from three owners, Golden Union of Greece, ER Denizcilik of Turkey and another Greek owner. The yard is aiming to construct 1 million dwt of ships in the coming three years.

In addition to the yard in Guangzhou, COSCO Shipyard Group has repair yards in Zhoushan, Dalian, Shanghai and Nantong. The Zhoushan and Dalian yards have already forayed into the newbuilding field and the construction of 57,000 dwt bulkers and 5,000 unit pure car carriers is under way.