Cosco orders eleven 19,000 teu container ships
Chinese shipping company Cosco Holdings Co. has agreed to order 11 container vessels, each with a capacity of 19,000 teu, for a total of US$1.5bn in an attempt to cut costs.
The ships are expected to be delivered in 2018, Cosco said in a stock exchange statement on Wednesday (9 September).
Cosco now becomes the fifth largest global shipping line in terms of market share, when existing fleet and current orderbook are combined, overtaking Hapag-Lloyd.
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