China Ocean Shipping Corporation’s (Coscocs) plans to up the ante by reaching a 2 million TEUs operational capacity mark by the end of 2018 will not include new orders.

Coscocs, created from a merger between China Shipping and Cosco, has no intention to order a substantial number of containership newbuildings now, to meet its target, DynaLiners Daily writes.

As informed, the addition to capacity targeted by the company’s management is related to existing orders comprising 30 ultra-large containerships, namely eight 13,500 TEU ships, five 14,500 TEU,  eleven 19,000 TEU and six 21,000 TEU boxships, with a total capacity for 515,500 TEU.

The newbuildings, all but two to be delivered by 2018, will add to a current fleet of 290 ships/1,560,000 TEU including 47 ULCSs ranging between 10,000 and 19,000 TEU.

As such Coscocs will range 3rd by the number of ULCS operating and on order, after MSC (84) and Maersk Line (79), but well ahead of CMA CGM (50).

Coscocs was officially launched in Shanghai on 18 February, becoming the world’s largest dry bulk and tanker owner and fourth on global scale with respect to its container fleet.

China’s shipping giant said that for the time being it would keep its container shipping alliances, namely CKYHE and Ocean Three.

“The new group will choose its future partners carefully, and is committed to building a strong and competitive alliance,” a spokeswoman for COSCOCS said in an email to Reuters.

“To ensure continued and stable services, the company will maintain operations in the two alliances until the alliance reorganisation is complete.”

From: World Maritime News