Chinese state-owned shipowner COSCO Shipping Specialized Carriers has approved an investment of up to CNY 2.624 billion (approximately US$386 million) to build eight 60,000-deadweight-tonne (dwt) multipurpose heavy-lift vessels at Chengxi Shipyard, reinforcing its long-term strategy to meet growing demand for transporting wind power equipment and other high-value industrial cargo.
According to an official company filing dated July 22, the investment was approved by the company’s board on July 21. The new vessels are scheduled for delivery between April 2029 and June 2030.
The shipbuilding contracts will be executed through COSCOL (HK) Investment and Development Co. Ltd., or one of its subsidiaries. The contract value excludes taxes and will be paid in five instalments linked to various stages of vessel construction.
The company said the new vessels are designed to serve the rapidly expanding market for renewable energy equipment, particularly wind turbine components, as well as cargoes related to advanced manufacturing industries.
COSCO Shipping Specialized Carriers estimates the project will generate an internal rate of return (IRR) of approximately 6.64%, with a static investment payback period of 12.51 years.
The company clarified that the investment does not constitute a related-party transaction or major asset restructuring under applicable regulations and therefore does not require shareholder approval.
As of March 31, 2026, COSCO Shipping Specialized Carriers owned or operated 204 vessels with a combined carrying capacity of 9.45 million dwt. Its diversified fleet includes multipurpose and heavy-lift vessels, pulp carriers, semi-submersible ships, car carriers, asphalt carriers, and timber carriers, making it one of China’s leading specialist shipping companies.
Chengxi Shipyard, located in Jiangyin, China, has been selected to construct the vessels. Established in 1973, the shipyard is a major builder of commercial vessels and forms part of China’s extensive shipbuilding industry.
The latest order underscores COSCO Shipping Specialized Carriers’ continued investment in expanding its specialised fleet to support the global energy transition and increasing demand for project cargo transportation.
