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China cosco to sign a contract with 420 million yuan to buy a ship to reserve capacity
Release date: 2014/09/25
On September 24th evening, cosco's announcement, the company subordinate company Prosperity Investment as the buyer, and the Chinese industry and trade, the Chinese west shipyard as joint the seller signed shipbuilding agreement on September 24, agreed by the Chinese chengcheng west shipyard for Prosperity Investment building, launching, equipped with six 81600 DWT bulk carrier ship and delivery, price agreement to ship a total of $188.88 million.
In addition, Prosperity Investment as the buyer with the Chinese industry and trade, waigaoqiao shipbuilding as the seller signed shipbuilding agreement on September 24, agreed by waigaoqiao shipbuilding and/or jiangnan changxing shipyard for Prosperity Investment building, launching, equipped with four 208000 DWT bulk carrier ship and delivery, price agreement to ship a total of $231.6 million.
According to the agreement, the above six 81600 DWT bulk carrier ship is expected to 2016 to 2017, during the delivery, and four 208000 DWT bulk carriers are expected to be delivered in 2017, and will be subject to waigaoqiao shipbuilding the delivery terms of the agreement in advance or postponed accordingly.
Cosco, said the shipbuilding agreements signed by subordinate companies to optimize company bulk fleet structure and enhance the overall competition ability of the fleet, ship shipbuilding agreement price by agreement the parties based on shipbuilding market price negotiated by the fair.
In fact, China ocean since this year has many times to buy boat and increase capacity. Some analysts believe that due to the BDI index is close to historic lows, dry bulk shipping companies are facing huge losses, BDI downside risk is not big, as the shipping demand recovery, BDI or will recover from, China ocean ships purchasing at this stage, it is showed that shipping industry recovery. "Cosco share price or will vary depending on the BDI rise, China cosco operating the largest dry bulk fleet, valuation and BDI highly relevant, since the beginning of 2013, the correlation coefficient of 0.78. The future once the BDI rallied, will drive China cosco valuation."
