Founded in early 2019, COSCO Shipping Investment Dalian entered the shipbuilding market in 2021 with orders for two 5,500 cubic meter liquefied petroleum gas (LPG) carriers at China Merchants Jinling Shipyard Dingheng. In November 2022, the company acquired its first very large gas carrier (VLGC), the 83,000 cubic meter Chang Xing Yuan, previously known as Gas Aries, purchased from Tianjin Southwest Maritime for $60 million.
Additionally, COSCO reportedly commissioned VLGCs at the same Qidong Offshore yard in late 2024, with deliveries planned for 2026. This latest order reinforces COSCO’s commitment to expanding its gas carrier fleet, enhancing its capacity to meet global demand for gas transportation.
The new vessels will support the efficient transport of liquefied gases, contributing to the global energy supply chain while aligning with COSCO’s strategy to strengthen its maritime infrastructure. The company’s investment in modern, high-capacity carriers reflects its focus on sustainable growth in the shipping sector, supporting both domestic and international energy consumption needs.
By leveraging domestic shipbuilding capabilities, COSCO fosters economic development within China’s maritime industry, ensuring reliable and advanced vessels for its operations. These efforts position COSCO as a key player in the global gas shipping market, facilitating the safe and efficient movement of energy resources.
