According to TradeWinds, China’s Cosco Shipping has launched a significant newbuilding campaign, placing orders for six VLCCs and 23 kamsarmax bulk carriers with domestic shipyards. The combined value of the contracts is reported at approximately USD 1.74 billion.
The orders were disclosed in filings to the Shanghai and Hong Kong stock exchanges by group subsidiary Cosco Shipping Development.
Cosco has contracted Dalian Shipbuilding Industry Co (DSIC) to build six 307,000-dwt VLCCs, described as methanol- and LNG-ready. The orderbook is valued at USD 715m with a value per vessel of USD 119m and delivery is expected between April 2027 and November 2028.
The tankers will be chartered to Cosco Shipping Energy Transportation (CSET) for 20-year periods, with part of the charter revenue linked to Middle East–China crude trades. Ownership will sit with Hainan Cosco Shipping Development, which will finance 25% internally, with the remainder from bank and external funding.
The group also ordered 23 (87,000 dwt) kamsarmax bulkers at Cosco Heavy Industry Dalian. Total value is reported to be USD 1.04bn with a price per vessel of USD 45m and delivery between May 2027 and late 2028.
These vessels will enter long-term charters (~20 years) with Cosco Shipping Bulk.
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