On February 5, the first vessel under COSCO SHIPPING Development Co., Ltd.'s 42-bulk carrier production-finance cooperation project successfully completed its sea trial and returned triumphantly. This milestone heralds the imminent debut of China's first domestically built 80K DWT multipurpose grain carrier and marks a new chapter in COSCO SHIPPING Development Co., Ltd.'s commitment to deepening shipping industry-finance integration practices.
To ensure the efficient progress of the sea trial, COSCO SHIPPING Development Co., Ltd., in collaboration with Dalian COSCO SHIPPING Heavy Industry Co., Ltd., China Classification Society (CCS), and COSCO SHIPPING Technology & Engineering (Guangzhou) Co., Ltd, meticulously planned and conducted joint deductions for the trial program. During the sea trial, all parties worked closely together to successfully complete a number of key verifications, including main engine performance, ship maneuverability, speed measurement, and full vessel system commissioning. Measured data indicates that all performance indicators of the vessel have met the pre-designed standards, and its reliability has laid a solid foundation for high-quality operations in the future.
As the first domestically built vessel type, the multipurpose design of this ship breaks the limitations of traditional grain carrier types, significantly enhancing its cargo adaptability and market competitiveness. At the same time, the vessel adopts a methanol-ready design, is paired with permanent magnet synchronous generators, and is equipped with advanced denitrification and desulfurization control devices, embedding "green genes" from the source of design.
Since 2024, the Company has continued to strengthen its efforts in the shipping industry chain, researched and explored market potential in segmented fields, and precisely met customer needs to provide solutions. The total value of the 42 bulk carrier orders invested and constructed in 2024 exceeds RMB 14.3 billion, with deliveries scheduled from 2026 to 2027. The successful investment and construction of this series of vessels marks a critical step for COSCO SHIPPING Development Co., Ltd. in promoting the upgrading of its fleet structure toward innovation and greenization.
The successful sea trial this time has injected confidence into the high-quality advancement of this series of vessels, providing strong support for the Company to continuously optimize green ship asset allocation, consolidate the foundation for the development of shipping leasing business, and actively integrate into the construction of the Hainan Free Trade Port. Leveraging its advantages in the field of industry-finance synergy, COSCO SHIPPING Development Co., Ltd. will promote the implementation of more innovative green vessels, injecting shipping industry-finance momentum into the sustainable development of the shipping industry.
