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SINGAPORE: COSCO Corporation has secured shipbuilding contracts worth US$724 million or S$1.1 billion to build 16 bulk carriers for German, Taiwanese and Greek shipowners.
The vessels will be delivered between March 2010 and July 2011.
They are bulk carriers of 57,000 deadweight tonnes, 80,000 deadweight tonnes and 92,500 deadweight tonnes.
The contracts are seen as significant for COSCO because it has so far focused on the building of 57,000-dwt bulkers.
COSCO only started its foray into the shipbuilding business at the beginning of this year. - CNA/ac
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