On July 29, COSCO SHIPPING Development announced that its subsidiaries plan to invest in the construction of 15 210,000 DWT bulk carriers, which will be leased out on a long-term basis upon delivery. Since the beginning of this year, the Company has advanced industry-finance cooperation projects involving a total of 34 dry bulk carriers. Leveraging the locational advantages of the Hainan Free Trade Port, this vessel investment and leasing project represents another key step in expanding the Company's portfolio of high-quality shipping assets.
Deploying Large Vessels to Build a Diversified Asset Portfolio
The 15 vessels to be built under this investment are mainstream 210,000 DWT Newcastlemax bulk carriers designed to fully meet global demand for long-haul ocean transportation of major dry bulk commodities. The investment in these vessels will further improve the Company's large bulk carrier portfolio, expand its reserves of high-quality large shipping assets, and accelerate the development of a vessel leasing asset matrix spanning multiple vessel types, operating scenarios and market cycles, injecting strong momentum into the strategic growth of its shipping leasing business.
Future-Ready Green Design Aligned with the Low-Carbon Transition
The vessels will feature dual methanol- and ammonia-ready designs, anticipating the global shipping industry's green transition. Their flexible compatibility with the future evolution of low-carbon fuel technologies will provide technical support for environmental and economic performance in vessel operations.
Stable Long-Term Returns to Strengthen Resilience for Steady Growth
Upon delivery, the vessels will be chartered to subsidiaries of COSCO SHIPPING Bulk Co., Ltd. under 20-year operating leases on a time-charter basis. The long-term charters will generate sustained and stable operating income for the Company, effectively mitigating cyclical fluctuations in the shipping market. Meanwhile, the Company will work with upstream and downstream enterprises across the shipping industrial chain to further expand the practical use of the renminbi in international shipping and enhance market competitiveness. In addition, the Company has developed an integrated financing plan precisely tailored to the project, using a sound financing structure and diversified financing channels to maintain financial stability and secure its long-term earnings capacity.
In recent years, leveraging its full-lifecycle vessel management capabilities and diversified financing strengths, the Company has continued to broaden the scope of industry-finance cooperation. The Company currently has more than 100 vessels of various types under construction, scheduled for delivery over the next five years. Together, they will form a multi-dimensional and diversified shipping asset platform and accelerate the Company's expansion in shipping industry-finance.
As the opening year of the 15th Five-Year Plan begins,
COSCO SHIPPING Development is
drawing on years of experience in industry-finance collaboration and forward-looking planning
to deepen and strengthen its presence in shipping leasing,
advancing from industrial-chain collaboration to end-to-end service capabilities
and from green asset deployment to a diversified vessel portfolio.
With its professional expertise,
the Company is building a stronger community of shared value across the shipping industrial chain
and writing a new chapter of industry-finance collaboration on the journey ahead.
