COSCO Shipping Development Co., Ltd. has announced a strategic newbuilding programme comprising 24 dry bulk vessels, reflecting its commitment to fleet modernization, operational sustainability, and long-term charter-led growth. The order comprises twenty 87,000 dwt multipurpose grain carriers and four 210,000 dwt large-capacity bulk carriers, the total contract value reached 8.656 billion RMB (approximately 1.27 billion USD).
All vessels are scheduled for deployment under long-term time charters upon delivery, ensuring stable asset utilization and revenue visibility.
The programme is structured across three China State Shipbuilding Corporation (CSSC) subsidiaries:
• Dalian COSCO Shipping Heavy Industry Co., Ltd. has been awarded a contract for fifteen 87,000 dwt multipurpose grain carriers, each valued at RMB 319 million. Delivery of the first vessel is scheduled for 15 June 2029, with all units to be completed by end-December 2030. Upon delivery, these vessels will be chartered to Huifeng Shipping Co., Ltd.—a wholly owned subsidiary of COSCO Shipping Bulk—for long-term time charter operations.
• CSSC Chengxi Shipyard Co., Ltd. will construct five additional 87,000 dwt multipurpose grain carriers. The lead vessel is expected to be delivered by 30 September 2029, with full completion targeted by 30 June 2030.
• Dalian Shipbuilding Industry Co., Ltd. and CSSC Qingdao Beihai Shipbuilding Co., Ltd. will each build two 210,000 dwt bulk carriers featuring dual-fuel readiness for methanol and ammonia—fully compliant with IMO’s EEXI and CII requirements and aligned with the International Maritime Organization’s 2050 net-zero ambition. Deliveries are scheduled between October 2029 and June 2030, with phased handovers to ensure operational continuity.
In a formal statement, COSCO Shipping Development noted that “this large-scale, forward-looking shipbuilding and leasing initiative strengthens the company’s asset quality, enhances the resilience and scalability of its core marine leasing business, and serves as a cornerstone of its high-quality development strategy under China’s 14th Five-Year Plan (2021–2025) and beyond.”
Resource.: https://mp.weixin.qq.com/s/NRIiHic3l0v-ga3NluXRUw