Coscol places orders for four 36,000 dwt multipurpose ships

The Cosco Group’s breakbulk, mpp and heavylift branch Coscol today announced that it ordered four 36,000 dwt multipurpose vessels at Nantong Cosco KHI Ship Engineering (NACKS). Coscol therewith firmed up a letter of intend that it had signed with the shipbuilder in May. The ships were ordered through Coscol’s wholly-owned subsidiary in Hong Kong.

The company said in a statement that it planned to fund the vessels through a combination of equity (30%) and bank loans (70%). The price of the ships has not been disclosed but is believed to be USD 33.67 million per units.

Two ships of the quartet are scheduled to come on stream in 2015, with the remaining two units to be delivered in 2016.

The Nantong shipyard is a (half-) sister company of Coscol since Nantong Cosco KHI Ship Engineering is a joint venture between China’s Cosco Group and the Japanese Kawasaki Heavy Industries Group.

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