Reports from China say Cosco is reserving berth slots for dozens of new eco-friendly vessels although deals are still being negotiated.
China Cosco Holdings, the stock exchange listed arm of the state owned shipowning giant, plans to upgrade its dry cargo fleet over the next three years with fuel efficient new tonnage.
Although financial losses through 2011 and 2012 have continued into this year the Hong Kong and Shanghai listed company wants to take advantage of a subsidy of CYN 1,500 ($247) per gross ton subsidy on offer from the Chinese state for the scrapping of old ships and replacement with new tonnage.
The
