COSCO Shipping Specialised Carriers has approved a plan to order eight 60,000-tonne multi-purpose heavy-lift vessels from CSSC Chengxi Shipbuilding for a total cost not exceeding CNY2.62 billion ($362 million) excluding tax.
The investment will be executed through the company's wholly owned subsidiary, COSCO Shipping Hong Kong Investment Development, or its affiliated units.
According to a company filing on July 22, contract payments for the newbuilds will be structured in five instalments based on construction progress. The company expects deliveries to take place between April 2029 and June 2030.
The company reported that expanding global wind power installations and rising exports of advanced manufactured goods from China have driven demand for specialized heavy-lift shipping capacity.
Financial calculations in the announcement estimate an internal rate of return of approximately 6.64 per cent for the project, alongside a static payback period of 12.51 years.
The firm stated that the expansion aims to optimise its fleet structure, expand operational scale in niche segments, and improve overall profitability.
