COSCO Orders Ten Bulkers

first_imgzoom ILLUSTRATIONProsperity Investment, a wholly-owned subsidiary of China COSCO, has placed an order for eight new bulk carriers at China Shipbuilding Trading and Chengxi Shipyard. In addition, COSCO has placed another order with Shanhaiguan Shipbuilding for two bulk carriers. The combined budget for all ten newbuilds is approximately $263m.China Shipbuilding Trading and Chengxi Shipyard will build four 38,800 dwt bulk carriers, and four carriers with the 63,800 dwt capacity respectively.The capacity of the vessels built at the Shanhaiguan Shipbuilding will be 38,500 dwt.Chengxi Shipyard plans to deliver the vessels throughout 2016 and 2017, while the Shanhaiguan Shipbuilding is expecting to deliver its two vessels in 2016.World maritime News Staff, July 11th, 2014last_img

US stock market steadies itself after worst week since 2012

NEW YORK, N.Y. – U.S. stocks are stabilizing after their worst week in more than two years.The Dow Jones industrial average edged up one point to 16,546 in early trading Monday.The Standard & Poor’s 500 index also rose a point to 1,907. The Nasdaq composite rose seven points to 4,284.European stock markets also rose. China released trade figures Monday that showed a pickup in export growth and imports last month.U.S. stocks swung wildly last week and ended lower because of renewed fears of a slowdown in European economies. The S&P 500 fell 3.1 per cent, its worst weekly performance since a 4.3 per cent decline in May 2012.J.C. Penney rose 5 per cent Monday after it named a Home Depot executive as its next CEO. AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email US stock market steadies itself after worst week since 2012 by The Associated Press Posted Oct 13, 2014 7:41 am MDT read more