Cosco Corp Swaps One Bulker for Two Tankers

zoom Cosco Corporation Singapore has agreed to cancel the construction of one 82,000 dwt bulk carrier at its shipyard in Dalian, originally scheduled for delivery in the third quarter of 2016, following a request from an undisclosed European buyer. Under the original contract, Cosco was hired to build two of these units. The other bulker will continue to be built at Cosco Dalian  shipyard and is expected to be delivered in the second quarter of 2016. Additionally, the Cosco Dalian shipyard and the European buyer have entered into a new contract to build two 113,000 dwt oil tankers for an undisclosed price. The oil tankers are scheduled for delivery in the fourth quarter of 2017 and the first quarter of 2018, respectively.