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.

Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Ship Sales

Frontline appoints Macleod as new CEO

Crude oil tanker firm Frontline, part of shipping tycoon John Fredriksen's business empire, appointed Robert Hvide Macleod as chief executive to replace Jens Martin Jensen, the firm said on Monday.

Venezuela's PDVSA Puts Six Tankers Up for Sale

Venezuelan state oil company PDVSA said on Friday it is selling four crude tankers and two liquid petroleum gas (LPG) tankers that are currently inactive, amid a broader plan to modernize its fleet.

Maersk Supply Service Orders Six Offshore Vessels

Maersk Supply Service, a unit in Danish conglomerate A.P. Moller-Maersk, said on Thursday it has placed an order for six new large anchor-handling tug supply vessels from Kleven Maritime in Norway.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Pipelines Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | terms and conditions | 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: 0.0893 sec (11 req/sec)