COSCO Shipping Specialized Carriers has recently taken steps to establish 14 new oil tankers weighing 60,000 dWT. This project includes a combination of newly built ships and long-term leases. This decision was made to expand the fleet and increase capacity for transporting heavy cargo and exporting equipment for various projects in China.
Details of Ship Establishment
This unit of the COSCO Shipping group, listed in Shanghai, has approved the establishment of eight ships at the COSCO Shipping Heavy Industry shipyard in Dalian. The cost of this project amounts to a maximum of 2.624 billion yuan (equivalent to 392 million dollars), reaching up to 49 million dollars for each ship. The delivery of the ships is expected to take place in 2029 and 2030.
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This contract will be of the type related to commercial parties and must be approved by shareholders before contracts are signed. Additionally, a separate announcement indicated that six more ships weighing 60,000 dWT are also under construction. The COSCO affiliate based in Xiamen will lease these ships for approximately 20 years.
Planning and Costs
The rental cost for each ship is set at about 9,100 dollars per day, including taxes. Therefore, the annual payments for the six ships will total around 20 million dollars. Furthermore, COSCO will be responsible for managing these ships. No timeline for the delivery of the Huanghai series ships has been announced.
This action comes just two months after COSCO Specialized established eight 60,000 dWT ships at the Chengxi shipyard worth up to 392 million dollars. According to industry sources, this contract has now been transferred to the Dalian shipyard. Earlier this year, the company also established four multi-purpose 40,000 dWT ships at Chengxi worth approximately 213 million dollars, with their delivery scheduled from mid-2028 to early 2029.
In total, COSCO Specialized has now unveiled 26 heavy multi-purpose ships for 2026, including four 40,000 dWT ships and 22 units in the 60,000 dWT class. These actions are aimed at building capacity for transporting components of wind turbines, machinery, and other exports for projects in China.
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