COSCO mega order for Chinese shipbuilders
COSCO splits orders totalling 5million dwt


Chinese shipping giant COSCO has placed what is believed to be a record order of 66 ships totalling 5.14 million dwt at Chinese shipyards, according to news agency Xinhau.

The order is split between four of China's shipbuilders including the firm's own shipyards and is made up of bulk carriers, container ships, oil tankers and car carriers. The order reflects increasing demand for movement of goods between China and the rest of the world as China's expansion continues.

No further details have been released but Lloyd's Fairplay reckons some of the vessels are already on order books as delivery is slated between 2008 and 2010.

Earlier this month Hyundai Heavy Industries of Korea announced they had started assembling units of one of four giant 10,000 teu container ships for COSCO