CHINA's
Cosco Shipping is reported to be in the market for sixteen
box ships worth US$1.8 billion that will help boost
the liner's fleet with an additional 304,000 TEU.
According to the Singapore's Splash 247, Cosco
Shipping "is already in discussions for a record, bumper new round of
orders that will rock the liner community, acutely concerned about the delicate
global supply/demand balance".
Splash understands Cosco is in advanced negotiations with
yards in China for eight 15,000 TEU ships and eight 23,000 TEU vessels, orders
that would be worth around US$1.8 billion, the report said.
Cosco declined to comment on the order speculation when
contacted by Splash.
Andy
Lane, a container shipping analyst at Singapore's CTI Consultancy,
described the news emanating from Shanghai as "strange timing" given
the still large liner orderbook, the uncertain trade outlook and the likely
impending slew of more environmental regulations coming shipping's way.
"With 10 per cent capacity added to the cellular
fleet in the last two years and an existing orderbook for 8.4 per cent more,
although this order does represent only a further 1.2 per cent growth, it comes
at a time of great trade growth uncertainty," Mr Lane said: "But when
China's yards are hungry, maybe Cosco is not fully in control of its own
destiny."
London's Lloyd's List reported that the Chinese liner
giant has denied claims it is to return to the yards for boxship order. The
report described as "crazy and unrealistic" that Cosco was to spend
the money made from the sale of Long Beach Container Terminal on 300,000 TEU of
newbuildings.
Source : HKSG.
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