COSCO Shipping Development Orders 15 Bulk Carriers of 210,000 DWT for RMB 7.92 Billion
COSCO Shipping Development Co. , Ltd.' s wholly owned subsidiary, Hainan COSCO Shipping Development Shipping Co. , has commissioned Shanghai Waigaoqiao Shipbuilding Co. , a subsidiary of China State Shipbuilding Corporation Limited, to build 10 Newcastlemax bulk carriers of 210,000 deadweight tons each. The vessels will adopt a methanol- and ammonia-ready fuel design, with a total transaction value of RMB 5.28 billion (excluding tax).
Separately, the company has commissioned Nantong Xiangyu Marine Equipment Co. , a subsidiary of Xiamen Xiangyu Co. , to build five bulk carriers of the same model, with a total transaction value of RMB 2.64 billion (excluding tax). The combined transaction value for the 15 bulk carriers is RMB 7.92 billion (excluding tax).
Why this event matters
The event has a measured impact on 2 industrys. The strongest current signal is positive for Shipbuilding, with intensity 60/100 and 90% confidence over a medium term horizon.
Shipbuilding
- Direction
- positive
- Intensity
- 60
- Confidence
- 90%
- Horizon
- Medium term
Shipping & Ports
- Direction
- neutral
- Intensity
- 30
- Confidence
- 80%
- Horizon
- Long term
Impact figures are analytical estimates that combine direction, intensity, confidence and event importance. They are not investment advice.