China Cosco Holdings will get rid of 13 aged vessels as part of a move to restructure the company's shipping fleet.
China Cosco announced to the Hong Kong Stock Exchange that it will decommission and disassemble 13 old ships, including four container vessels totalling 11,207 teu and nine dry bulk carriers totalling 553,535 dwt.
The names of the vessels were not disclosed.
It added that the approved restructuring plan is not expected to have “any material impact on the business and financial condition of the company.”