China’s CoscoCS has banked CNY 212m ($30.01m) from selling eight containerships for scrap.
The Cosco Shipping Holdings unit said the vessels were offloaded in the fourth quarter.
They had a total capacity of 409,914 dwt.
The owner booked a loss of CNY 638m from the deals.
Two vessels were owned by subsidiary Cosco (Cayman) Mercury and six by Shanghai Pan Asia Shipping.
As a result of their disposal, the average age of its fleet has decreased, while saving on fuel consumption, the company said.
