COSCO SHIPPING Development to Acquire Ten 62,000 DWT Multi-Purpose Vessels for US$180 Million
Hong Kong – Paul Hastings, a leading global law firm, announced today that it has advised COSCO SHIPPING Development Co., Ltd. (Stock Code: 2866.HK and 601866.SH) (“COSCO SHIPPING Development”) on its proposed acquisition of ten 62,000 DWT multi-purpose vessels through assignment and novation of shipbuilding contracts and new shipbuilding contracts for approximately US$180 million. The ten multi-purpose vessels will be chartered to COSCO SHIPPING Specialized Carriers Co., Ltd. (Stock Code: 600428.SH) and its subsidiaries upon delivery.
The Hong Kong and Shanghai-listed COSCO SHIPPING Development is principally engaged in shipping and industry-related leasing businesses, manufacturing of containers and provision of investment and financial services.
Paul Hastings previously represented COSCO SHIPPING Development in various transactions, including its recent
The Paul Hastings team was led by
At Paul Hastings, our purpose is clear — to help our clients and people navigate new paths to growth. With a strong presence throughout Asia, Europe, Latin America, and the U.S., Paul Hastings is recognized as one of the world’s most innovative global law firms.