Chinese Shipbuilding Giant CSSC Secures USD7.1 Billion Order for Record 87 Vessels From Cosco Shipping
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China State Shipbuilding Corporation (CSSC) secured a record order for 87 vessels worth USD7.1 billion from Cosco Shipping. The contract, signed in Shanghai, involves various types of ships and marks the largest domestic contract for a Chinese shipbuilder. CSSC Holdings highlighted the record cross-border yuan settlement of CNY47 billion. Shares of CSSC Holdings rose 2.4% following the announcement.
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