[photopress:cosco_container_ship.jpg,full,alignright]COSCO, China’s leading shipping and logistics service provider, is going to use four domestic shipyards to build 66 ships. Zhang Fusheng, a COSCO spokesman said the cost was a record amount for the shipping giant although he did not give precise details.
Wu Bangguo, Chairman of the Standing Committee of China’s National People’s Congress, attended the signing ceremony on the sidelines of the annual conference of the Boao Forum for Asia.
The 66 ships — including container ships, bulk cargo ships, oil tanker and car carriers — will have a total deadweight tonnage of 5.14 million.
They will be built by four domestic firms, including China Shipbuilding Industry, COSCO Shipbuilding Industry and COSCO Shipyard Group (which keeps a lot of it in the family) and will be delivered between 2008 and 2010.
COSCO currently owns 740 ships, with a total capacity of 46 million dwt.
Source: China View
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