15 August 2025, Friday
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China's COSCO Shipping Development will build and lease 14 new ships under a US$724.5 million expansion plan, reports Bangalore's MarineInsight.
The project includes ten 210,000 DWT Newcastlemax bulk carriers designed for future ammonia and methanol fuel use. Four will be built by Qingdao Beihai Shipbuilding and six by Zhoushan COSCO Shipping Heavy Industry.
The ships will be leased to COSCO Shipping Bulk or affiliates. The firm also plans four asphalt carriers worth CNY800 million (US$111 million). Two will be built by Fujian Mawei Shipbuilding and two ice-reinforced vessels by Huangpu Wenchong Shipbuilding.
COSCO will also pursue a sale and leaseback arrangement for one 271,000-square metre LNG carrier, with a purchase price capped at $360.7 million.
