China CSSC (SHA:600150) actual controller China State Shipbuilding and China COSCO Shipping signed a cooperation agreement for new shipbuilding projects in Shanghai.
The cooperation involves 87 vessels of various types, amounting to a total of 50 billion yuan, according to a Tuesday filing with the Shanghai bourse.
The order includes ultra-large container ships, bulk carriers, tankers and other vessel types, to be built by subsidiaries including Jiangnan Shipyard and Dalian Shipbuilding.
Shares of the shipbuilder rose 3% in recent trade.
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