COSCO SHIPPING Development Co (HK:2866) has released an update.
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COSCO SHIPPING Development Co., Ltd. has announced significant shipbuilding and vessel leasing contracts, including the construction of 42 bulk cargo vessels for a total cost of over RMB 12.7 billion. These transactions are classified as discloseable and connected transactions under the Hong Kong Stock Exchange rules, and they require reporting, announcement, and independent shareholders’ approval. The company is also entering a major vessel leasing service agreement with COSCO SHIPPING Bulk for the leasing of the newly contracted vessels until the end of 2044.
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