Chinese shipowner COSCO Shipping Specialized Carriers has approved an investment of up to CNY 2.624bn ($386m) in eight 60,000-dwt multipurpose heavy-lift vessels at Chengxi Shipyard, according to the company’s official filing.
The newbuildings will target demand for the transport of wind-power equipment and other advanced-manufacturing cargoes. Deliveries are scheduled to run from April 2029 to June 2030.
The investment will be placed through COSCOL (HK) Investment and Development Co Ltd or one of its subsidiaries. The contract price excludes tax and will be paid in five instalments linked to construction progress. COSCO Specialized’s board approved the project on 21 July, with the filing dated 22 July.
The transaction is not a related-party deal or a major asset restructuring and does not require shareholder approval.
The company estimates an internal rate of return of about 6.64% and a static payback period of 12.51 years.
COSCO Shipping Specialized Carriers is a Chinese state-controlled specialist shipowner. At 31 March 2026, it owned or operated under operating leases 204 vessels totalling 9.45m dwt, including multipurpose and heavy-lift ships, pulp carriers, semi-submersibles, car carriers, asphalt carriers and timber carriers.
COSCOL (HK) Investment and Development Co Ltd is the shipowner’s wholly owned Hong Kong investment subsidiary.
Chengxi Shipyard is a Chinese shipbuilding company based in Jiangyin and founded in 1973.