Cosco Shipyard's unit to build four ships for CMA CGM

A SUBSIDIARY of Cosco Corporation's 51 per cent-owned shipyard group has won new containership orders from French shipping line, CMA CGM.

Cosco (Zhoushan) Shipyard Co was awarded a contract from CMA CGM for four 3,300 teu containerships at undisclosed prices, Cosco Corp said in a Singapore Exchange announcement on Wednesday.

Cosco Zhoushan is owned by Cosco Shipyard Group, a 51 per cent subsidiary of Cosco Corp.

The vessels are scheduled for delivery between March 31 and Aug 31, 2018.

The contract is not expected to have a material impact on the net tangible assets and earnings per share of Cosco Corp for the year ending Dec 31, 2016.