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COSCO SHIPPING Development Co ( (HK:2866) ) has provided an update.
COSCO SHIPPING Development Co., Ltd. has announced the signing of six contracts with China State Shipbuilding Industry for the construction of six 307,000 DWT VLCCs, amounting to approximately RMB5.09 billion. Additionally, a vessel leasing agreement was approved with Pan Cosmos for these vessels, marking a significant expansion in COSCO’s fleet and leasing operations. These transactions are considered discloseable under Hong Kong’s Listing Rules, indicating a strategic move to enhance the company’s market position and operational capacity.
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 within the shipping industry. The company is involved in the development and leasing of shipping vessels, focusing on large-scale vessels such as Very Large Crude Carriers (VLCCs).
Average Trading Volume: 19,774,243
Technical Sentiment Signal: Strong Buy
Current Market Cap: HK$31.74B
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