Cosco Shipping Bulk is going on an $880m shopping spree at Chinese shipyards, placing orders for 16 firm newcastlemaxes and securing options for up to 30 bulkers in all.
Industry sources told TradeWinds the Guangzhou-based dry bulk company — a unit of state-run giant China Cosco Shipping — has selected five Chinese shipyards for “the first tranche” of 210,000-dwt vessels that will be used to transport bauxite from Guinea to China.
