COSCO SHIPPING Development has revealed a major investment, construction and leasing deal for 42 bulk carriers.
This agreement, signed on August 30, marks a milestone as it is considered the largest shipbuilding and leasing transaction since the company transformed into a shipping industry and finance operator in 2016.
Under the terms of the agreement, the company will entrust a subsidiary of COSCO SHIPPING Heavy Industry to invest in the construction of 20 bulk carriers and CSSC Chengxi to invest in the construction of 22 bulk carriers.
The deal includes five 64,000-ton ships, two 82,000-ton ships and 35 80,000-ton ships, with a total ship order value of more than RMB 14.3 billion.
Moreover, these ships will be delivered in succession from 2026 to 2027 and will be leased to COSCO SHIPPING Bulk for a long term.
The vessels will be energy-efficient and environmentally friendly, with some designed to be methanol-ready.
