On November 27, COSCO Shipping Development announced that it would purchase 16 210,000 DWT bulk carriers and charter them to COSCO Shipping Bulk for 10 years.
According to the announcement, Oriental Fleet International Company Limited, a wholly-owned subsidiary of the company, will purchase 16 new-built 210,000 dwt bulk carriers from a single-ship company of Huifeng, a wholly-owned subsidiary of COSCO Shipping Bulk, and chartered them for operating purposes. The ships will be chartered to COSCO Shipping Bulk. Oriental Fleet intends to purchase the target ship at a total assessed value of USD 845.76 million.
The ships will be registered under Hong Kong flag and is expected to be delivered in succession from December 2020 to August 2021.
The 16 bulk carriers will be put into the bauxite transportation guarantee task of the Chinalco Guinea project.
Source: Sarah Yu, XINDE MARINE NEWS
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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