China COSCO Shipping Group has signed an agreement with China State Shipbuilding Corporation for the construction of 87 vessels valued at approximately RMB 50 billion, equivalent to approximately US$7.1 billion. According to China CSSC Holdings, the entire order package will be placed with CSSC Group facilities and will cover key segments of the COSCO Shipping fleet.
The order includes large-capacity container ships, bulk carriers, tankers, grain and oversized cargo carriers, ro-pax ferries, and small container vessels. Construction will be distributed among the group’s leading shipyards, including Jiangnan Shipyard, Dalian Shipbuilding Industry, Wuchang Shipbuilding Industry, Guangzhou Shipyard International, CSSC Chengxi, and Qingdao Beihai Shipbuilding. CSSC clarified that the package includes both firm serial contracts and letters of intent.
The company noted that the lengthy project implementation cycle may impact schedules and financial performance, emphasizing the existence of execution risks and the lack of guarantees of final results. Delivery dates for the ships have not been disclosed, but China CSSC Holdings expects the project to increase revenue and shipyard competitiveness in the medium term, and strengthen COSCO Shipping’s position in container, dry bulk, oil and gas, specialty, and passenger shipping.