On 29th August 2024, COSCO SHIPPING Heavy Industry Co., Ltd. and COSCO SHIPPING Container Lines Co., Ltd signed a contract in Shanghai for the construction of twelve 14,000 TEU container ships with dual-fuel methanol propulsion. With the latest order, COSCO SHIPPING emphasises its efforts to implement the concept of green and low-carbon development and build an environmentally friendly fleet while reducing the impact of daily operations on the environment and ecology to achieve long-term sustainable development, according to the company's release.
The new ships belong to a new generation of ship types developed jointly by COSCO SHIPPING Lines, COSCO SHIPPING Heavy Industry and the China Shipbuilding and Ocean Engineering Design and Research Institute. With a length of 335.9 metres, a width of 51 metres and an invisible bulb bow and stern energy-saving device, the new vessels adopt innovative design and advanced technology. They offer a large loading capacity of 13,700 standard containers and a high loading capacity for reefer containers to provide high-quality, end-to-end cold chain services to customers worldwide.
The new vessels are equipped with the world’s most powerful permanent magnet shaft generator, a bow wind deflector, an air lubrication system for the hull and intelligent systems developed by COSCO SHIPPING that fulfil the third phase of EEDI energy efficiency indicators and the latest cyber security regulations. The dual-fuelled main engine and generator are both powered by methanol to significantly reduce greenhouse gas emissions.
COSCO SHIPPING Holdings is currently focusing on a combination of building new ships and modernising existing vessels to accelerate the green and low-carbon transition of the company's fleet. The company has ordered twelve 24,000 TEU container ships with methanol dual-fuel propulsion, signed contracts for the conversion of eight ships to methanol dual-fuel propulsion, while promoting environmentally friendly development practices such as all-electric ship operation and biofuel pilot projects, which has given the company strong momentum to compete on the new course.
In the future, COSCO SHIPPING Holdings will continue to focus on the new ways of ‘digital intelligence’ and ‘green and low-carbon’, strive for innovation and accelerate upgrades, and achieve joint success between high-quality development and global sustainable development, so as to open up a new era of development, create a new development momentum, provide better services to customers, and create more value for shareholders.
As a leading Chinese intelligent shipbuilding enterprise, Yangzhou COSCO Shipping Heavy Industry has resolutely seized the strategic development opportunities in recent years, further enhanced its strength on the new road to green vessels and made remarkable achievements in the research and development and construction of new energy ships. The company has fully covered the design and construction of three major types of ships, namely container ships, oil tankers and bulk carriers that can run on methanol, and met the shipping industry's requirements for green transition with higher quality, smarter and more environmentally friendly products.
China COSCO SHIPPING Corporation Limited is an SOE headquartered in Shanghai. It is the merged entity of China Ocean Shipping (Group) Company (COSCO) and China Shipping (Group) Company (China Shipping).
As of Dec 31, 2022, the total fleet of COSCO SHIPPING comprises of 1394 vessels with a capacity of 113.82 million DWT, ranking No.1 in the world. Its container fleet capacity is 3.02 million TEU, ranking the third in the world. Its dry bulk fleet (437 vessels / 45.14 million DWT), tanker fleet (228 vessels / 29.18 million DWT) and general and specialized cargo fleet (175 vessels / 5.78 million DWT) are all topping the world’s list.
The Corporation has invested in 56 terminals, including 49 container terminals, all over the world. The annual throughput of its container terminals amounts to 131.79 million TEU, taking the first place worldwide; the global sales volume of its bunker fuel exceeds 28.30 million tons, which is the largest in the world; and the container leasing business scale reaches 3.91 million TEU, the third largest in the world. Its offshore engineering manufacturing competence and vessel agency business are also leading in the world.
COSCO SHIPPING (Europe) GmbH is the regional management company of the China COSCO SHIPPING Corporation in the European Region. The predecessor of this company, formerly known as 'COSCO Europe GmbH', was the representative office of COSCO in Hamburg and registered and founded on February 15th, 1989, by the original COSCO Group in Hamburg, Germany. It was the first regional management company set up overseas by the COSCO Group.
The company's business administration extends from Europe to North Africa, the Mediterranean and the region along the Black Sea, covering 64 countries in total. The scope of business comprises container transportation, break bulk cargo transportation, logistics services, terminal operations, ship technical services and ship fuel supply, etc. The company has 15 daughter companies in 12 countries, of which some are wholly owned and some are joint-venture companies. They are located in China, Germany, the United Kingdom, the Netherlands, Belgium, Finland, France, Italy, Turkey, Romania, Greece and Egypt.
