COSCO Shipping to raise US$2bn for 20 new ships

Now back in profit, COSCO Shipping has announced plans to raise 12.9bn yuan (US$2bn) to fund the construction of 20 new container vessels, with 11 of more than 20,000 teu in capacity.

In particular, six ships will have a capacity of 21,237 teu and five vessels will each be able to carry 20,119 teu.

From the remainder, four ships will have a capacity 14,568 teu and five will havea capacity of 13,800 teu.