COSCO gains 700 TEU electric container vessels

COSCO SHIPPING Development has celebrated the project commencement for two 700 TEU electric container vessels to serve on the Yangtze River mainline.

The project was inaugurated at COSCO SHIPPING Heavy Industry in Yangzhou with a cutting of the first steel plate ceremony.

The ship is expected to be delivered in the second half of 2023.

This is the first electric vessel operated by COSCO SHIPPING Development.

The 10,000 DWT supports sea-river-through transportation with “box power” as the main power source for propulsion.

COSCO has launched the project as part of its mission to achieve China’s dual carbon targets, facilitate green, zero-carbon shipping, and support the green transformation of shipping in the Yangtze River waters.

In October, COSCO Shipping Holdings placed an order for 12 methanol dual-fuel 24,000 TEU boxships for a value of almost $2.9 billion.

The 12 containerships will go to Orient Overseas Container Line (OOCL) and COSCO Shipping Lines, 7 and 5 ships respectively, with each vessel costing $239.85 million.