New milestone for shipbuilding

Cosco Container Lines (Coscon), a unit of China Ocean Shipping Group (Cosco), will purchase four container vessels, the biggest ever ordered at a mainland yard, for a possible total of US$520m, the South China Morning Post reported. Coscon has agreed to order four 10,000 20-foot equivalent unit (teu) capacity ships from Nantong Cosco KHI Ship Engineering, a sign that domestic and foreign investment in China's shipbuilding industry is paying off.