COSCO to Pay $1.95B for 16 Ships

Monday, May 12, 2008

The company will reportedly pay $1.3b for eight 13,350-TEU containerships and eight 205,000-dwt dry bulk cargo ships for $612.8m. COSCO had said in April that it would expand its fleet by ordering $2.3b worth of new ships and planned to raise its 2008 capital expenditure by 37 percent to $3.34b  

 


Contracts

BP, ExxonMobil, ConocoPhillips 'Quit' Alaska LNG Project

BP, Conoco Phillips, and Exxon Mobil said that the 65-billion dollar megaproject would be too unprofitable for them to move into the next phase of development.

C-Job Designs Flettner Freighter for Switijnk

The Dutch shipping company family Switijnk has contracted C-Job Naval Architects to develop a Rotor Sail-equipped design to meet their specific loading and sailing profile.

Yangzijiang Shipbuilding to Slash 2,000 More Jobs

Chinese shipbuilder Yangzijiang Shipbuilding Holdings Ltd said it plans to cut 2,000 additional jobs, just under 10 percent of its current workforce, stepping up

 
 
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