shipping by sea from china to Chicago

Author:Ricky
Release Date:2014-09-17

September 17 evening, the China OceanAnnouncement, the company under COSCO Asset Management Co., Ltd. under the five single-ship companiesAs a buyer with China Shipbuilding Trading Co., Ltd. (referred to as "the ship of Industry and Trade"), Shanghai Jiangnan Changxing Shipbuilding Co., Ltd. (referred to as "Changxing shipyard") as a joint seller on September 17, 2014 signed a five shipbuilding agreement agreed upon by the Changxing shipyard for five single-ship companies were built, water, equipped and delivered five 14500TEU containerBoats, boat price agreements totaling $ 618 million. Expected to be delivered from 2017 to 2018, and the corresponding advance or delay according to the agreed terms of delivery shipbuilding agreement.

Shipbuilding agreement the buyer will own funds and bank borrowings to pay the price payable under the agreement shipbuilding.

China COSCO said that the signing of this agreement is designed to optimize the company shipbuilding container fleet structure and improve the overall competitiveness of the fleet through affiliated companies.

In fact, China COSCO has repeatedly shot recently purchased boat. June this year, the company spent 1.7562 billion, construction and sale of four 64,000 and two 78,000 dwt bulk carriers, July Youyi $ 213.6 million, set to build four 38,800 and four 63,800 dwt bulk cargo ship, the other with $ 49.5 million order to build two 38,500 dwt bulk carriers. A rough calculation, China Ocean Shipbuilding recent new funds exceeded $ 1 billion.

Some analysts believe that, due to the BDI & nbsp; indices are close to historic lows, the dry bulk shipping companies facing huge losses, BDI & nbsp; downside risk is not, as the recovery of shipping needs, BDI & nbsp; or rebound, China COSCO in this stage procurement of vessels, it is indicated that the recovery of the shipping industry. "China COSCO shares or with the BDI & nbsp; rise, China's largest ocean-going dry bulk fleet operators, the valuation is highly correlated with the BDI, since the beginning of 2013, the correlation coefficient up to 0. & nbsp;. 78 next BDI & nbsp; Once stabilized rise, will drive China Ocean valuation increase. "