China’s state-owned shipping conglomerate COSCO Shipping is advancing negotiations for a significant newbuilding order comprising up to 12 LNG dual-fuel container vessels, with an estimated total contract value exceeding USD 2 billion.
Market sources indicate that COSCO is in advanced discussions with China State Shipbuilding Corporation (CSSC)’s Hudong-Zhonghua Shipbuilding Co., Ltd. for a series of approximately 14,000 TEU neo-Panamax container ships. Unit pricing is reported to range between USD 170 million and USD 190 million, placing the aggregate contract value at approximately USD 2.0–2.3 billion.
The newly ordered vessels are expected to be deployed under Orient Overseas Container Line (OOCL), COSCO’s Hong Kong-based liner subsidiary. While no official delivery schedule has been disclosed, this initiative would further expand COSCO’s substantial newbuilding portfolio and reinforce its strategic commitment to liquefied natural gas (LNG) as a low-carbon marine fuel.
Earlier in 2024, COSCO placed orders totaling approximately USD 2.7 billion, including 12 LNG dual-fuel 18,000 TEU vessels at Jiangnan Shipyard and six conventionally fueled vessels at COSCO Zhoushan Shipyard. Historically, the group has also pursued methanol-ready vessel designs—most notably OOCL’s 2025 order for 14 methanol dual-fuel 18,500 TEU containerships at Dalian Shipbuilding Industry Company (DACKS) and Nantong COSCO KHI Ship Engineering Co. (NACKS). In parallel, OOCL has secured additional capacity through time charters, including six 13,000 TEU vessels from Seaspan, scheduled for delivery from late 2026 through early 2028.
Should the Hudong-Zhonghua order be formally confirmed, COSCO’s total newbuilding pipeline—including OOCL—would reach over 120 vessels, representing more than 1.4 million TEU of capacity. As the world’s fourth-largest container liner operator, COSCO currently operates a fleet of approximately 555 vessels with a combined capacity of roughly 3.6 million TEU.
Resource.: https://mp.weixin.qq.com/s/MOJ6IpPpcu9k3XFrB2H3gA