COSCO Shipping Bulk and Yangzhou COSCO Shipping Heavy Industry, subsidiaries of Chinese shipping heavyweight COSCO Shipping, have signed a contract for 3 +5 210,000-ton methanol and ammonia reserved bulk carriers, priced at $93 million each.
Equipped with methanol and ammonia dual-fuel retrofitting capabilities, these Newcastle-type bulk carriers are about 300 meters long, 50 meters wide and 25.2 meters deep.
The ships are said to feature conventional hydrodynamic energy-saving devices such as front guide wheels and vortex-eliminating fins, as well as shaft generators. An open desulfurization tower is installed to achieve all-round energy saving and efficiency reduction.
According to COSCO, these are “energy-saving, economical, efficient and environmentally friendly,” vessels , set to be delivered and put into operation between 2027 and 2028.
It is worth noting that in 2024, COSCO signed an investment, construction and leasing agreement for 42 bulk carriers in a major fleet expansion push.
Under 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. This includes five 64,000-ton ships, two 82,000-ton ships and 35 80,000-ton ships. The value of the deal is RMB 14.3 billion ($1.69 billion).
Reportedly, the vessels will be delivered in succession from 2026 to 2027 and will be leased to COSCO Shipping Bulk for the long term.
A contract for the construction of twelve 14,000 TEU containerships with dual-fuel methanol propulsion was also signed by COSCO Shipping Heavy Industry and COSCO Shipping Container Lines. These vessels are slated for delivery between May 2027 and March 2029.
COSCO highlighted that the company wants to support the new development trend of green, low-carbon and intelligent shipping industries and actively promote the construction of its green and low-carbon fleet.