China’s COSCO Shipping has announced a $1.75 billion newbuilding program for 29 vessels as part of its ongoing fleet renewal and decarbonization strategy. The order includes 23 kamsarmax bulk carriers of 87,000 dwt and six very large crude carriers (VLCCs) of 307,000 dwt. All ships will be built at domestic yards, with deliveries scheduled between April 2027 and late 2028.
COSCO Shipping Heavy Industry in Dalian will construct the bulk carriers under contracts worth about $1.03 billion, while Dalian Shipbuilding Industry Corp will handle the VLCCs valued at around $715 million. The bulkers will operate under 20-year bareboat charters with COSCO Shipping Bulk, and the VLCCs – equipped for methanol and LNG dual-fuel operation – will join COSCO Shipping Energy Transportation’s fleet.
The project marks another step in COSCO’s broader push to modernize its fleet and adopt alternative fuels. The company recently retrofitted existing ships for cleaner propulsion and introduced China’s first methanol dual-fuel container vessel, COSCO Shipping Yangpu.
Earlier this year, COSCO placed additional orders for 14 ships, including newcastlemax bulkers and asphalt carriers, continuing its strategy of building energy-efficient tonnage across domestic shipyards. The group’s long-term goal is to cut emissions, expand global operations, and reinforce its position among the world’s leading shipping and logistics enterprises.
