COSCO in shipyard deal, report of acquisition

Transportation

Friday, December 07, 2012

COSCO said that on Dec. 4 it signed a strategic cooperation agreement with China Shipbuilding Industry Corp. and an order for two VLCCs, with an option for two more . According to the agreement, COSCO and CSIC will deepen their cooperation in shipbuilding technology, logistics, and transportation. "The signing of the agreement will help with China's strive towards a maritime power, and realize low-carbon development," said COSCO. It said the new tankers will hav...

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