COSCO in largest ever build and lease order

Inked on 30 August, this deal marks the largest shipbuilding and leasing transaction since the company transformed into a shipping industry and finance operator in 2016.

According to the transaction, the company will entrust a subsidiary of COSCO SHIPPING Heavy Industry to invest in the construction of 20 bulk carriers and CSSC Chengxi to invest in the construction of 22 bulk carriers, including five 64,000-tonne ships, two 82,000-tonne ships and 35 80,000-tonne ships, with a total ship order value of more than RMB 14.3 billion (€1.8 billion).

These ships – some of which are methanol-ready – will be delivered in succession from 2026 to 2027 and will be leased to COSCO SHIPPING Bulk for a long term.

COSCO Shipping currently owns more than 140 ships and has layouts in multiple sub-sectors such as container ships, bulk carriers, and multi-purpose pulp ships.

The company says this latest deal will enhance its assets significantly, further consolidating its leasing business.