Cosco orders more ultra-large container ships for $1.5bn

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That’s right – Cosco is set to increase its fleet of 19,000 teu container vessels after signing an order yesterday with Chinese shipyards owned by its parent company for 11 of the beasts due for delivery in 2018. Analysts say the rationale behind the order is to cut operating costs, although critics will argue that further capacity additions to the Europe-Asia trade – the only lane that these vessels would currently be able to operate – will more than likely lead to depressed rates. Who knows? 2018 remains some time away.