China COSCO Holdings, parent of COSCO Container Lines, has taken up the options on four 4,250-TEU containerships with Chinese shipbuilders Jiangsu Tianyuan and Jiangsu New Yangzi.
The options were part of contract signed on Dec. 28 last year for 16 confirmed sister ships costing about $1.08 billion. The total consideration for the construction of the option vessels is about $280 million.
Seven of the confirmed vessels are to be delivered during the second half of 2011. The remaining nine confirmed ships are expected the first half of 2012. The option vessels are expected to be delivered from August to September 2012.
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