Shipping giant builds major repair facility

China Ocean Shipping Company (COSCO) has invested $243 million in building a major ship repair facility at Zhoushan in China’s Zhejiang province. The repair base was established earlier this year when the shipping company consolidated its repair facilities at Dalian, Nantong and Guangzhou and other areas. Sources at COSCO claim the repair base will become the biggest in the country and one of the world’s foremost repair centers.