- DSIC Confirms Four 210,000 DWT Newcastlemax Contracts.
- Second Newcastlemax Order Batch for COSCO This Year.
- COSCO Adds Major Dual-Fuel Bulk and VLCC Orders.
COSCO Shipping is ramping up its presence in the Newcastlemax segment as it adds several new vessels to its fleet. DSIC has confirmed orders for four new 210,000 DWT Newcastlemax bulk carriers. On November 12, DSIC announced a total of 30 vessel orders, which include these four bulk carriers commissioned by a domestic leasing company. Sources in the market have indicated that COSCO Shipping will operate these ships under long-term charters once they are delivered, reports iMarine.
Second Newcastlemax Order Batch This Year
On July 29, COSCO Shipping Development greenlit contracts for 10 bulk carriers, each weighing 210,000 DWT, with the orders split between Beihai Shipbuilding (4 vessels) and COSCO Zhoushan (6 vessels). The total cost for this deal is RMB 5.28 billion (around US$744 million), with deliveries expected by the end of 2028.
Additional Large Dual-Fuel Orders
Recently, they ordered 23 methanol dual-fuel bulk carriers, each with a capacity of 87,000 DWT, from COSCO Dalian, along with 6 methanol + LNG dual-fuel VLCCs (307,000 DWT) from DSIC. The total investment for these orders amounts to RMB 12.4238 billion (approximately US$1.751 billion), with all vessels set to deliver by the end of 2028 under long-term charters.
Nearly 100 Dry Bulk Newbuildings Since 2024
Since launching a major bulk newbuilding program in 2024, COSCO has ordered nearly 100 bulk carriers from various Chinese shipyards, including Nantong Xiangyu SOE, COSCO Yangzhou, COSCO Dalian, COSCO Zhoushan, Hantong, Beihai Shipbuilding, and DSIC.
Additional Projects and Multi-Purpose Orders
COSCO Shipping Bulk has also signed contracts with Fujian Shipbuilding for up to 30 grain carriers, each with a capacity of 80,000 DWT. Their subsidiaries have placed additional orders for VLCCs, asphalt carriers, VLGCs, container ships, tankers, and semi-subs, bringing the total announced orders (including options) to around 100 vessels in 2025.
COSCO’s Global Fleet Leadership
As of December 31, 2024, COSCO Shipping operated 1,535 vessels, totalling 130m DWT, ranking first globally.
Breakdown includes:
- 542 container ships (3.388m TEU)
- 468 dry bulk ships (49.826m DWT)
- 251 oil & gas vessels (32.8m DWT)
- 207 general/specialised ships (7.883m DWT)
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Source: iMarine
