The board of COSCO Shipping Specialised Carriers has approved a proposal to construct four 40,000 DWT multipurpose heavy lift vessels as part of its fleet expansion strategy, aimed at supporting the fast-growing global wind power market.
The investment will be carried out through the company’s wholly owned subsidiary, COSCO Shipping Hong Kong Investment Development, which will act as the primary investor. The vessels will be built by CSSC Chengxi Shipbuilding under a contract valued at CNY 1.49 billion (approximately $210 million).
According to the delivery schedule, the first vessel is expected to be delivered in or before June 2028, while the remaining three ships are scheduled for delivery by the end of February 2029.
COSCO said the newbuilding programme is aligned with the “rapid development” of the wind power sector, noting that the trend towards larger wind turbine components and the expansion of deep-sea offshore wind projects are driving demand for more advanced vessel designs and greater fleet capacity.
The company added that the new vessels will enhance its capability to handle specialised and heavy cargo, while strengthening its role in supporting the global supply chain for new energy industries.
Internal financial projections indicate an estimated internal rate of return (IRR) of about 6.76 per cent, with a static investment payback period of approximately 11.8 years.
