The order is part of COSCO’s broader newbuilding initiative launched last year, which included 42 dry bulk vessels ordered from COSCO Shipping Heavy Industry and CSSC Chengxi Shipyard. Additionally, the company secured up to eight methanol- and ammonia-ready newcastlemax carriers, with deliveries planned from August 2027 to November 2028. These vessels will also be operated by COSCO Shipping Bulk, reflecting the company’s focus on sustainable and modern shipping solutions.
Industry sources indicate that the Qingdao Beihai contract includes options for 10 additional newbuilds. COSCO Shipping Bulk is also reportedly exploring further newcastlemax orders at least two other domestic shipyards, signaling a strategic expansion of its fleet to meet growing global demand for bulk cargo transport.
A COSCO Shipping spokesperson stated: “The newcastlemax orders at Qingdao Beihai Shipbuilding are a key step in strengthening our fleet’s capacity and efficiency. These vessels, combined with our ongoing investment in alternative fuel-ready ships, position us to meet the evolving needs of the global shipping market while supporting sustainability goals.”
The new carriers are designed to enhance COSCO’s operational capabilities in the dry bulk sector, which handles commodities such as iron ore, coal, and grain. The inclusion of methanol- and ammonia-ready vessels underscores the company’s commitment to adopting cleaner fuel technologies, aligning with industry trends toward decarbonization.
By partnering with leading domestic shipyards, COSCO Shipping Bulk is leveraging advanced shipbuilding expertise to ensure high-quality, efficient vessels. The potential for additional orders highlights the company’s confidence in the long-term growth of the bulk shipping market and its role as a major player in global maritime logistics.
This expansion strengthens COSCO’s position in the competitive dry bulk sector, supporting reliable and sustainable transport solutions for international trade. The newbuilds will contribute to the company’s ability to serve key markets efficiently while advancing its environmental objectives through innovative vessel designs.
