Summary by Futu AI
Zhongyuan Sea Control announced on 29 May 2024 that its wholly-owned subsidiary COSCO (CAYMAN) Mercury Co., Ltd. has entered into a supplemental agreement with Yangzhou Zhongyuan Marine Heavy Machinery Co., Ltd. for the original four 16,180TEU container shipbuilding contracts. UNDER THE SUPPLEMENTAL AGREEMENT, FOUR CONTAINER SHIPS UNDER CONSTRUCTION WILL BE UPGRADED FROM SINGLE CONVENTIONAL FUEL POWER TO CONVENTIONAL METHYL DUAL-FUEL POWER AND HAVE THEIR CABIN CAPACITY ADJUSTED TO 16,108TEU. The delivery time has been adjusted from June to December 2025 to November 2025 to June 2026. The original contract counterprice increased from $155 million to $183.5 million per ship, and the total counterprice increased from $620 million to $734 million. This power upgrade helps ships meet emission reduction policy requirements in the long term and reduces operating costs. The...Show More