Cosco orders 42 bulkers for USD 2 billion
More than 40 new bulkers are to join the fleet of Cosco Shipping Development (Source: Cosco)
Cosco Shipping Development has signed an investment, construction and leasing agreement for 42 new bulk carriers at a total cost of just over USD 2 billion. A subsidiary of Cosco Shipping Heavy Industry will build 20 ships, while 22 other vessels will be built by CSSC Chengxi. In China’s own currency, the value of the deal is RMB 14.1 billion.
The package consists of 35 bulkers of 80,000dwt, five of 64,000dwt, and two of 82,000dwt. The ships will be delivered during 2026 and 2027 and leased on long-term contracts to Cosco Shipping Bulk. The ships will have energy-saving features, the company said, and some will be ‘ready’ to use methanol as fuel.
Cosco Shipping Development currently owns more than 140 ships including container vessels, bulk carriers, and multipurpose pulp ships. The company explained that its acquisition strategy is designed to expand with high-quality shipping capacity, new ship types of environmentally friendly design and strong versatility.
