COSCO Zhoushan to Build Two Panamax Bulkers

COSCO Corporation (Singapore) says that its subsidiary COSCO (Zhoushan) Shipyard has secured a contract valued over USD56 million from an Asian buyer to build two 64,000 dwt bulk carriers.

The two vessels are scheduled for delivery in 4Q2016 and 1Q2017 respectively.

COSCO adds that barring any unforeseen circumstances, the contract is not expected to have a material impact on the net tangible assets and earnings per share of the Company for the year ending 31 December 2014.