COSCO Shipping Bulk Orders 16 Multipurpose Bulk Carriers for US$800 Million

COSCO Shipping Bulk has placed a new order for 16 multipurpose bulk carriers of 87,000 DWT, of the kamsarmax type, to be built at the Chinese shipyard Fujian Shipbuilding. The deal, valued at approximately US$800 million, was driven by three Chinese financial leasing companies financing the vessels for subsequent long-term charter to the shipping line.

According to Splash 247, ICBC Financial Leasing is involved in 11 of the vessels, Zheyin Financial Leasing in three, and Yongying Financial Leasing in the remaining two. The parties involved did not disclose individual prices or delivery dates for the units.

The agreement was signed during an event marking Fujian Shipbuilding's 160-year history, on which occasion the shipbuilding group also secured contracts to supply the main engines and generators for the 16 vessels.

This contract adds to other recent orders placed by COSCO Shipping Bulk in the grain bulk carrier segment. In June 2025, the shipping line had agreed with Fujian Shipbuilding and CITIC Financial Leasing on the construction of 15 firm vessels and 15 optional vessels of 80,000 DWT, valued at around US$50 million each, with deliveries scheduled between 2027 and 2028 at the Mawei Shipbuilding and Xiamen Shipbuilding yards. In July, the listed leasing arm COSCO Shipping Development had announced another order for 24 vessels worth US$1.27 billion, comprising twenty multipurpose bulk carriers of 87,000 DWT and four newcastlemax vessels of 210,000 DWT, split between COSCO Shipping Heavy Industry's Dalian shipyard and CSSC Chengxi Shipbuilding, intended for 20-year leasing contracts with the subsidiary Huifeng.

Lloyd's List included this order in its weekly roundup of newbuilding orders, in which bulk carriers were the predominant segment among 45 vessels ordered across various sectors, with the COSCO Shipping Bulk order backed by the three leasing companies standing out as one of the week's highlights.