Cosco Zhousan books orders worth $1.2 billion

China’s Cosco (Zhoushan) Shipyard Co., Ltd. has received newbuilding orders worth nearly $1.2 billion. Of this, $669 million is accounted for by contracts from Cosco International Ship Trading for twelve 57,000 dwt bulkers and four 5,000-vehicle PCTCs (pure car truck carriers). These newbuildings are scheduled to be delivered between December 2008 and October 2009

In addition, Cosco Zhousan has entered into building contracts worth a further $525 million for a total of 14 bulkers for various shipowners from Turkey, Portugal, Greece and India. Deliveries of these 57,000 dwt bulk carriers are scheduled to be between August 2008 and March 2010. The Cosco group has previously announced that it will expand its shipyard operations and says the entry into the contracts announced today is “another step in that direction.”