COSCO SHIPPING Development Subsidiary to Build 15 New 210,000-DWT Bulk Carriers for a Total of 7.92 Billion Yuan

Corporate Action
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Summary · why it matters

COSCO SHIPPING Development announced plans to build 15 new 210,000-deadweight-ton bulk carriers through its wholly-owned subsidiary Hainan COSCO SHIPPING Development Shipping Co., Ltd., with a total investment of 7.92 billion yuan. Of these, 10 vessels will be constructed by Waigaoqiao Shipbuilding with a transaction value of 5.28 billion yuan, and 5 vessels will be built by Xiangyu Shipbuilding with a transaction value of 2.64 billion yuan. The ships are expected to be delivered gradually starting from May 2030 and will be chartered on a long-term operating lease to COSCO SHIPPING Bulk.

Impact on stocks 3

Others · 3 stocks
China CSSC Holdings Ltd
600150
▲ PositiveDemandrelevance

Waigaoqiao Shipbuilding, a subsidiary of China CSSC Holdings Ltd, is contracted to build 10 of the 15 bulk carriers for 5.28 billion yuan.

COSCO SHIPPING Holdings Co Ltd
601919
± MixedDemandrelevance

COSCO SHIPPING Bulk will charter the vessels on long-term operating lease, but COSCO SHIPPING Holdings is not directly involved in the order.

Off-coverage companies 1

南通象屿海洋装备股份有限公司Private▲ Positive
Demandrelevance

Xiangyu Shipbuilding (南通象屿海洋装备股份有限公司) is contracted to build 5 of the 15 bulk carriers for 2.64 billion yuan.