COSCO orders 25 ships

China COSCO Holdings Co. Ltd. said its board on Tuesday authorized placed orders for 25 ships at a total cost of $2.3 billion.

The company said its COSCO Container Lines Co. Ltd. subsidiary would enter into conditional construction contracts with Nantong COSCO KHI Ship Engineering Co. Ltd., a 50-50 joint venture between COSCO and Kawasaki Heavy Industries for eight ships with capacities of 13,350 TEUs each.

The company also said it was ordering 17 dry bulk vessels. 

Source: American Shipper