COSCO Shipping Energy Transportation (CSET) has placed an order for the construction of six tankers spread between two shipbuilding units of Cosco Shipping Heavy Industry.
The listed oil and gas shipping arm of COSCO Shipping Group has tapped Yangzhou COSCO Shipping Heavy Industry to build three aframaxes for about $289m. All three 114,200 dwt ships will be methanol dual-fuel with first delivery expected end-2026.
Meanwhile, the Dalian yard will build a pair of 64,900 dwt units and one 50,000 dwt MR with deliveries through 2026. The trio will be methanol-ready and cost around $165m.
“The construction of tankers will allow the Group to optimise the structure of the tanker fleet and improve the stable profitability, thereby promoting the Group’s global layout and the development of green and low-carbon shipping,” the company said.
COSCO’s energy shipping arm sports a fleet of over 150 crude and product tankers and has stakes in some 70 LNG carriers. Last year, CSET signed up for the first syndicated shipping loan in China linked to environmental, social, and corporate governance performance.