COSCO SHIPPING Development announced the signing of a significant investment, construction, and leasing agreement for 42 bulk carriers. This marks the company’s largest shipbuilding and leasing transaction since it transitioned into a shipping industry and finance operator in 2016.
Under the agreement, the company will commission COSCO SHIPPING Heavy Industry to construct 20 bulk carriers and CSSC Chengxi Shipyard to build 22 vessels. The fleet will include five 64,000-ton ships, two 82,000-ton ships, and 35 vessels with a capacity of 80,000 tons. The total value of the order exceeds RMB 14.3 billion. The ships are set to be delivered between 2026 and 2027 and will be leased long-term to COSCO SHIPPING Bulk.
The new vessels are designed with energy efficiency in mind and are classified as environmentally friendly. Some of the bulk carriers are methanol-ready, supporting the industry’s push for green, low-carbon technologies.
In recent years, COSCO SHIPPING Development has seized opportunities in the ship leasing market by focusing on the industry’s transition to sustainable operations. By aligning with the demands of the green shipping sector, the company has been able to provide tailored solutions for its customers.
As one of the key players in the shipping and logistics industry, COSCO SHIPPING Development currently owns over 140 vessels, spanning container ships, bulk carriers, and multi-purpose pulp ships. This latest investment significantly expands its fleet of high-quality, environmentally friendly ships. The transaction strengthens its shipping leasing business and aligns with its strategic goal of becoming a value-driven industry and finance operator, while promoting sustainable growth within the maritime sector.
