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COSCO SHIPPING Development Announces Major Shipbuilding and Leasing Deals

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COSCO SHIPPING Development Announces Major Shipbuilding and Leasing Deals

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The latest update is out from COSCO SHIPPING Development Co ( (HK:2866) ).

COSCO SHIPPING Development Co., Ltd. announced significant transactions involving the construction and leasing of bulk cargo vessels. The company entered into contracts for the construction of ten 210k DWT-class bulk cargo vessels with Heavy Industry (Zhoushan) and China State Shipbuilding, totaling approximately RMB5.28 billion. Additionally, a vessel leasing agreement was made with COSCO SHIPPING Bulk for these vessels. These transactions are classified as major and connected transactions, subject to regulatory approval and reporting requirements, highlighting the company’s strategic expansion in the shipping industry.

More about COSCO SHIPPING Development Co

COSCO SHIPPING Development Co., Ltd. is a joint stock limited company incorporated in the People’s Republic of China, operating in the shipping industry. The company is involved in shipbuilding and vessel leasing, focusing on bulk cargo vessels.

Average Trading Volume: 49,646,722

Technical Sentiment Signal: Buy

Current Market Cap: HK$31.37B

For detailed information about 2866 stock, go to TipRanks’ Stock Analysis page.

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