COSCO Shipyard Group Scores New Record (China)

One of the biggest Chinese shipbuilders, COSCO Shipyard Group, has scored a new record with the operating profit in 2011 exceeding CNY 20bn ($3.17bn). COSCO managed to deliver 47 new vessels last year thus exceeding 3 million DWT mark. The company also entered a new market with six offshore vessels successfully delivered to their owners. [...]