On July 29, COSCO SHIPPING Development simultaneously released a major announcement in Shanghai and Hong Kong: the company is advancing its strategy to deepen industry-finance integration, fully enhancing its value discovery and creation capabilities. It plans to invest in building 10 bulk carriers and 4 asphalt tankers for long-term leasing, while actively expanding a sale-and-leaseback business for 1 LNG carrier. This series of moves follows last year’s successful delivery of 42 bulk carrier construction and leasing projects, further demonstrating COSCO SHIPPING Development’s industry leadership.

Bulk Carriers

In the bulk carrier industry-finance project, COSCO SHIPPING Development showcases farsighted strategic vision and strong resource integration. Its wholly-owned subsidiary will invest heavily in constructing 10 Newcastle-type bulk carriers of 210,000 DWT with methanol and ammonia-ready capabilities. This initiative not only addresses the current strong demand in the shipping market but also aligns precisely with the long-term trend of green development in the global shipping industry.

Among these, 4 vessels will be built by Qingdao Beihai Shipbuilding Co., Ltd., affiliated with China State Shipbuilding Corporation, and 6 vessels will be crafted by Zhoushan COSCO Shipping Heavy Industry Co., Ltd., a subsidiary of COSCO Shipping Heavy Industry. The total contract value for these vessels exceeds RMB 5.2 billion, underscoring COSCO SHIPPING Development’s strong strength and firm determination in the shipping sector.

Asphalt Tankers

In the asphalt tanker industry-finance project, COSCO SHIPPING Development also demonstrates precise market insight and flexible strategic planning. Its wholly-owned subsidiary will invest in building 4 asphalt tankers to meet the growing demand in the asphalt transport market.

Two 9,000-ton dual-purpose asphalt tankers for domestic and international trade will be constructed by Mawei Shipbuilding Co., Ltd., Fujian Province, known for its superb craftsmanship and excellent quality, ensuring strong transport capacity and reliable performance. Another two 9,000-ton reinforced ice-class asphalt tankers will be built by Huangpu Wenchong Shipbuilding Co., Ltd., designed to operate stably in cold-region environments, significantly expanding the geographical range for asphalt transport.

The total contract value for these four asphalt tankers exceeds RMB 800 million. Upon delivery, they will be leased long-term to companies under COSCO SHIPPING Specialized Carriers Co., Ltd.

LNG Carrier

In the LNG carrier sale-and-leaseback project, COSCO SHIPPING Development follows the global energy transition trend and actively participates in clean energy transportation. Its wholly-owned subsidiary will carry out a sale-and-leaseback transaction for one 271,000 cubic meter QC-Max type LNG carrier, with a purchase price not exceeding USD 360.69 million. LNG, as a clean energy source, is increasingly important in the global energy mix.

COSCO SHIPPING Development will continue to uphold the development philosophy of innovation, coordination, green growth, openness, and sharing. With greater resolve and openness, it aims to navigate the global shipping market and write an even more brilliant chapter.