China Cosco Group is planning to order more new ships that will include five containerships and six dry bulk carriers.

The state-owned shipping conglomerate has scheduled a shareholder’s meeting on 28 August to discuss the proposal to order five 14,000 teu containerships and six 81,600 dwt bulk carriers.

Shanghai-listed Cosco has just ordered 10 bulker newbuildings at two domestic shipyards for a total of $262.5m, and sold eight elderly vessels to the scrapyards.