Cosco Shipping Orders 10 Containerships for USD 1.5 Billion

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FILE PHOTO: A Cosco Shipping vessel is moored at PSA's Pasir Panjang container terminal in Singapore September 19, 2018. REUTERS/Edgar Su/File Photo

Cosco Shipping Holdings Co. Ltd. has placed a $1.5 billion order for 10 large containerships.

The ships will be built at affiliated shipyard, Cosco Shipping Heavy Industry (Yangzhou) Co. Ltd., another unit of state giant China Cosco Shipping Group, the company said in a statement.

The ships are set to be delivered between 2024 and 2025.