COSCO confirms order for 12 methanol-fuelled 24,000 teu boxships

An order for five vessels has been placed on behalf of COSCO Shipping Lines with Dalian COSCO KHI Ship Engineering for a contract value USD1.2 billion. A separate order for seven vessels has been placed on behalf of OOCL with Nantong COSCO KHI Ship Engineering, with a contract value of USD1.7 billion.

The vessels are expected to be delivered between the third quarter of 2026 and the third quarter of 2028.

The newbuilding contract announcement is in line with an increase in interest in methanol dual-fuel propulsion solutions among state-owned Chinese ship owners and operators, as reported in September.