This agreement is significant as it represents the largest shipbuilding and leasing transaction ever made since the company made its foray into shipping and finance operations in 2016.
COSCO Shipping Heavy Industry, an affiliate of COSCO, will be responsible for the building of 20 bulkers and the COSCO group’s subsidiary CSSC Chengxi Shipyard will construct the remaining 22 bulk carriers. The new fleet on-order breakup includes five 64,000-ton ships, two 82,000-ton ships, and 35 ships of 80,000-ton, with a total order value exceeding US$2 billion. The delivery of these ships is planned between 2026-27 and will be leased to COSCO SHIPPING Bulk for the long term. The vessels will be energy-efficient and environmentally friendly, with some designed to be methanol-ready.
