Cosco Shipping plans to build 40 new semisubmersible heavy-lift vessels over the next five years to replace older vessels at a cost of US$1.5 billion, Breakbulk reports.The renewal program is timed to coincide with the growing demand for offshore wind development and a revival of offshore oil and gas exploration, according to international reports.
"We are carrying more and more equipment for wind farms. We carry a lot of this type of equipment," Guo Jin, Cosco Shipping’s chief operating officer, told reporters following the June christening of the 48,231-deadweight-tonne Xiang Rui Kou at Guangzhou Shipyard International.
Cosco Shipping is considering "even bigger" semi-submersible vessels of 80,000-100,000 dwt.
The firm has 10 multipurpose vessels, of approximately 27,000 dwt on order for delivery this year and in 2012.
Up to 40 newbuilds will be added to Cosco Shipping’s fleet by early 2015, reducing the average age of its fleet from 17 years to between eight and 10 years.
"We are carrying more and more equipment for wind farms. We carry a lot of this type of equipment," Guo Jin, Cosco Shipping’s chief operating officer, told reporters following the June christening of the 48,231-deadweight-tonne Xiang Rui Kou at Guangzhou Shipyard International.
Cosco Shipping is considering "even bigger" semi-submersible vessels of 80,000-100,000 dwt.
The firm has 10 multipurpose vessels, of approximately 27,000 dwt on order for delivery this year and in 2012.
Up to 40 newbuilds will be added to Cosco Shipping’s fleet by early 2015, reducing the average age of its fleet from 17 years to between eight and 10 years.