Cosco invests in 43 new bulk carriers

On 30 August, COSCO SHIPPING Development finalized a major agreement to invest in, construct, and lease 42 bulk carriers.

This agreement represents the largest shipbuilding and leasing transaction since the company transitioned into a shipping and finance operator in 2016.

Under the terms of the agreement, COSCO-affiliated COSCO Shipping Heavy Industry will be responsible for the building of 20 bulkers and the group's subsidiary CSSC Chengxi Shipyard will construct the remaining 22 bulk carriers.

The order includes five 64,000-ton ships, two 82,000-ton ships, and 35 80,000-ton ships, with a total order value exceeding US$2 billion.

Moreover, these ships, which will be delivered between 2026 and 2027, will be leased to COSCO SHIPPING Bulk for the long term. The vessels will be energy-efficient and environmentally friendly, with some designed to be methanol-ready.

Source: Container News