The Chinese state-owned group will invest in 23 bulk carriers and 6 VLCCs to modernize and decarbonize the fleet by 2028
Beijing – The Cosco Shipping group has presented a $1.75 billion shipbuilding program, which involves the construction of 29 new units — 23 Kamsarmax bulk carriers and 6 VLCCs (Very Large Crude Carrier) — at Chinese shipyards, with deliveries between 2027 and 2028.
According to the documentation filed by Cosco Shipping Development, the 87,000 dwt bulk carriers will be built by Cosco Shipping Heavy Industry (Dalian) for a value of approximately $1.03 billion, while the 307,000 dwt VLCCs, ready for methanol and LNG fuels, will be built by Dalian Shipbuilding Industry Corp (Dsic) for $715 million.
The bulk carriers will be employed in twenty-year bareboat charters with Cosco Shipping Bulk, while the VLCCs will enter long-term leasing with Cosco Shipping Energy Transportation. The first deliveries are expected in April 2027.
The project is part of the Cosco fleet’s modernization and decarbonization strategy, which focuses on dual-fuel technologies and integrated operational structures among the group’s companies.
This plan follows other orders placed in 2025, including 10 Newcastlemax bulk carriers and 4 asphalt carrier ships, built at the Cssc Qingdao Beihai, Cosco Zhoushan and Cssc Huangpu Wenchong shipyards.
