COSCO Shipping Development's Unit to Buy Ten Vessels for 5.28 Billion Yuan; Shares Up 1%

MT Newswires Live

2025/07/30

COSCO Shipping Development's (HKG:2866, SHA:601866) unit, COSCO Shipping Development (Hainan), agreed to purchase ten 210,000-deadweight-tonnage bulk cargo vessels for a total of 5.28 billion yuan, according to a Hong Kong bourse published late Tuesday.

COSCO Shipping Development's Shanghai shares rose less than 1% during Wednesday's afternoon trade.

COSCO Shipping Hainan will purchase six of the vessels from COSCO SHIPPING Heavy Industry (Zhoushan) for about 3.17 billion yuan, while the other four will be bought from CSSC Qingdao Beihai Shipbuilding for 2.11 billion yuan.

Moreover, COSCO Shipping Development (Hainan) will lease to COSCO Shipping Bulk Group the ten vessels for 240 months, the Chinese container manufacturer said.

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