COSCO Shipping’s ordering spree has continued with a massive newbuilding programme in the dry bulk segment.
The Chinese state-owned shipping giant has commissioned 42 bulker newbuilds across its affiliated COSCO Shipping Heavy Industry and CSSC Chengxi Shipyard in two separate deals worth more than $2bn in aggregate ($1.8bn excluding tax).
COSCO Heavy yards will be in charge of 20 newbuilding projects comprising five 64,000 dwt ultramaxes, thirteen 80,000 dwt kamsarmaxes, and a pair of slightly larger 82,000 dwt units, while all the remaining 22 ships to be built by Chengxi will be 80,000 dwt.
COSCO’s largest shipbuilding order, which comes hot off the heels of the company’s move on a dozen 14,000 teu methanol dual-fuel containership newbuilds and eight newcastlemax bulkers, will see the ships delivered in 2026 and 2027.
All 42 new vessels will be leased to companies owned by COSCO Shipping Bulk.