COSCO SHIPPING Development subsidiary plans to build 15 new 210,000-ton bulk carriers for a total transaction value of 7.92 billion yuan

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COSCO SHIPPING Development announced that it plans to build 15 new 210,000-ton bulk carriers through its wholly-owned subsidiary Hainan COSCO SHIPPING Development Shipping Co., Ltd., with a total transaction value of 7.92 billion yuan, excluding tax. Of these, 10 vessels will be built by Waigaoqiao Shipbuilding Co., Ltd., a subsidiary of China State Shipbuilding Corporation, for a transaction value of 5.28 billion yuan, excluding tax. Another 5 vessels will be built by Nantong Xiangyu Shipbuilding & Offshore Engineering Co., Ltd., a subsidiary of Xiamen Xiangyu Co., Ltd., for a transaction value of 2.64 billion yuan, excluding tax. The new ships are expected to be delivered gradually from May to December 2030 and will be chartered on a long-term operating lease to Huifeng Shipping Co., Ltd., a subsidiary of COSCO SHIPPING Bulk Co., Ltd., with an annual charter rate of approximately 59.4 million yuan per vessel, excluding tax. In the first quarter of 2026, COSCO SHIPPING Development achieved revenue of 5.986 billion yuan and net profit attributable to the parent company of 413 million yuan.

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