News / Cosco leads newbuild orders as its spending spree continues

Ocean carrier Cosco is said to be stretching its fleet expansion beyond self-owned newbuilding orders.

The Chinese operator is apparently backing Costamare Shipping’s order for a dozen 9,200 teu ships, at China State Shipbuilding, with a long-term charter.

The commission comes a week after Cosco finalised orders for 12 18,000 teu and six 3,000 teu ships at affiliated shipyards, part of a massive newbuilding spending spree involving 87 vessels across various segments

Alphaliner understands that Costamare could have signed on for six ships last year, with another six in the making. It is not known if the ships will be conventionally powered, or dual-fuelled with either LNG or methanol. A 9,200 teu newbuilding is priced around $105m, according to Clarksons.

Otherwise, newbuilding orders this week were dominated by mid-sized vessels.

China Merchants Energy Shipping, another China state-owned shipping business, has ordered four 3,000 teu ships at China Merchants Heavy Industry, costing CNY1.32bn ($190m), expected to be delivered in 2027 and 2028. CMES indicated that ownership of the vessels would be transferred to its subsidiary, intra-Asia carrier Sinotrans.

Interasia Lines, a Taiwanese intra-Asia carrier, has exercised options for two more 2,900 teu ships at Yangzijiang Shipbuilding, after an initial commission of six in September. Delivery of the additional ships is expected in 2029.

Chinese shipowner Qianyuan Shipping has ordered a 5,000 teu ship at Yangzhou Guoyu Shipbuilding that could be delivered in late 2027 or in early 2028. Design specifics have not yet become public, but it is believed to be a compact ship with a high deadweight, similar to those Guoyu is already building for owners such as Conbulk.

MB Shipbrokers commented that overall sentiment continued unchanged this week, adding: “Underlying demand across segments remained firm with both liner companies and owners discussing projects across several segments.”