COSCO Singapore Sells Four Vessels For $34M
March 28, 2006
COSCO Corp. (Singapore) Ltd. has sold four of its older vessels for $34 million as part of an ongoing fleet renewal exercise and will realize a profit of about $14.2 million from the sale, the Singapore-listed Chinese shipping and ship-repair company said Tuesday.
The vessels were sold at around their assessed values to sister companies Shenzhen Ocean Shipping Co. Ltd. and COSCO International Trading Co.
COSCO Singapore also said it took delivery of M/V COS Prosperity, a new dry bulk carrier, on Tuesday. The vessel had been due in the third quarter of 2006.
Source: Dow Jones
Related News
Panama and UAE Establish Blue Pass Project
Australia Backs Long-Term Gas Exploration
US Sends Warship Through Taiwan Strait Ahead of Presidential Inauguration
VARD to Build Hybrid Ocean Energy Construction Vessel for Island Offshore
Conflict Heating Up Over Cosco's Megaport in Peru