The listed division of state-owned Cosco said five containerships and three bulkers had been sold in January.

The vessels, with a combined capacity of 257,657 dwt, fetched a total of CNY 82.2m ($13.17m), it added.

But it will book losses of CNY 182.24m from the deals.

Coscon and Cosbulk previously operated the vessels.

The sales have lowered the average age of its owned ships, while reducing oil consumption.

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