Cosco Scraps Four Vessels
Aiswarya Lakshmi
May 14, 2015
China COSCO Holdings disassembled four vessels including two container vessels and two bulk carriers in April 2015, with the aggregate capacity of 261.8 thousand deadweight tons.
The company realized losses from the disassembly of the vessels of approximately RMB59 million (USD9 million), says a statement from the COSCO.
The units were sent for disassembling from 1 April 2015 to 30 April 2015.
The two decommissioned container vessels ((Xiu He and Ya He) )were previously owned by COSCO Container Lines Co., Ltd (COSCON).
The two decommissioned bulk carriers (Tianfu Hai and Ming Hai) were previously owned by China COSCO Bulk Shipping (Group) Company Limited (COSCO Bulk), both wholly-owned subsidiaries of the company.
Together with the latest decommissioning, COSCO has dismantled around 40 vessels just this year, including 17 in January and 8 in February.
The average age of China COSCO's self-owned vessels has been reduced after the scrapping, the company said. The scrapping also helped to lift the overall operating competitiveness of the company's existing fleet with increased fuel savings and environmental protection levels, it added.
