Report: Cosco Corp. to Sell Bulk Carriers

Tuesday, December 04, 2007
Cosco Corp (Singapore) reportedly will sell its fleet of 12 bulk carriers, according to a Reuters report.

The company is also mulling establishing bases in Vietnam and other Asian countries outside China.

Cosco, majority-owned by China Ocean Shipping (Group) Co, is focusing its resources on three main business lines: ship repair, new ship building and marine engineering, which includes the construction of oil rigs.

Since last year, Cosco has won a series of orders for conversion and construction of offshore oil and gas drilling rigs and vessels.

The firm has said it will bolster its ship repair capacity by expanding its Zhoushan shipyard with three new berths and three dry docks totaling 1 million deadweight tonnes docking capacity, for completion by 2010.


Ship Sales

Securing the Scorpene: DCNS to Move Court

The French shipbuilder DCNS plans to seek an injunction to prevent further publication of information contained in 22,400 secret documents about stealth submarines built for India,

Austal Dives into Loss

Australia’s largest shipbuilder Austal posted a full year loss of $84.28 million because a program to build war ships for the US Navy took longer than expected.

STX to Slash Jobs, Sell Yard

To stay above water by restructuring, South Korean Shipbuilder STX Offshore & Shipbuilding Co. plans to lay off about a third of its workforce and sell a yard in France, says a report in WSJ.

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Pod Propulsion Port Authority Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0577 sec (17 req/sec)