Friday, January 6, 2012

Cosco up on $284m vessel orders

Shares of Singapore-listed Chinese shipbuilder Cosco Corp (COSC.SI) rose as much as 2.7% on Friday, bucking the broad weak market trend, after the firm said it won a contract worth over US$220 million ($284 million)from an Asian company for two offshore construction vessels. 

At 11:45 a.m., Cosco shares were up 1.6% at $0.93 on a volume of 4.3 million shares, 1.1 times the average daily volume in the last 30 days.
 

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