Cosco Shipping reveals its largest shipbuilding agreements yet: Shanghai-based shipping giant Cosco Shipping has inked two USD 2 bn agreements for 42 new bulk carriers across its affiliated Cosco Shipping Heavy Industry and CSSC Chengxi Shipyard, China-based Xinde Marine reported. Cosco Heavy yards will construct 20 vessels and Chengxi will build 22. The vessels — slated for delivery in 2026-2027 — will be leased to outfits operating under Cosco Shipping Bulk.

Cosco’s been making regional moves: Cosco Shipping Line is set to invest USD 375 mn to increase its container capacity at various Egyptian ports this year. Cosco and Hong-Kong port operator Hutchison Ports were among the companies that signed agreements worth USD 1.6 bn in March 2023 to develop new container terminals at Ain Sokhna and Damietta Ports. Cosco subsidiary Cosco Shipping Port (CSP) partnered with Abu Dhabi Ports in 2018 to launch CSP Abu Dhabi Terminal at Khalifa Port, which has a design capacity of 2.5 mn TEUs and initial handling capacity of 1.5 mn TEUs. The shipping firm also launched its first Moroccan branch in Casablanca earlier this year.

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