Cosco Shipping Bulk Orders Eight Newcastlemax Bulk Carriers
Chinese shipping giant Cosco Shipping Bulk has placed an order for eight newcastlemax bulk carriers, according to market sources.
The ships, which will be delivered between 2027 and 2028, will be built by Cosco Shipping Heavy Industry Yangzhou. The total value of the order is estimated to be around $880 million.
Cosco Shipping Bulk is one of the world's largest dry bulk shipping companies. The company operates a fleet of over 1,000 vessels, including bulk carriers, tankers, and container ships.
The order for the newcastlemax bulk carriers is part of Cosco Shipping Bulk's fleet renewal program. The company is investing in new ships to improve its fuel efficiency and reduce its environmental impact.
The newcastlemax bulk carriers will be used to transport coal and other dry bulk commodities. The ships will be equipped with the latest technology, including energy-efficient engines and ballast water treatment systems.
The order for the newcastlemax bulk carriers is a sign of Cosco Shipping Bulk's confidence in the future of the dry bulk shipping market. The company believes that demand for dry bulk commodities will continue to grow in the coming years.
The order for the newcastlemax bulk carriers is also a boost for the Chinese shipbuilding industry. The ships will be built by Cosco Shipping Heavy Industry Yangzhou, one of China's leading shipyards.
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