COSCO Expands Dry Bulk Fleet with 10 New Kamsarmax Vessels

COSCO Shipping is advancing its large-scale expansion in the dry bulk sector with a new order for 10 kamsarmax bulk carriers.

The Chinese state-owned shipping company has teamed up with Everbright Financial Leasing to finance the newbuilds, which will be constructed at Jiangsu Hantong Ship Heavy Industry.

While details on the financial terms and delivery schedule for the 82,000 dwt vessels remain undisclosed, it is confirmed that the ships will be leased to COSCO Shipping Bulk's affiliated companies.

This deal comes on the heels of COSCO’s record-setting order in September for 42 bulk carriers valued at over $1.8 billion, which were allocated to COSCO Shipping Heavy Industry and CSSC Chengxi Shipyard. It also follows an August agreement for eight newcastlemax newbuilds at Jiangsu Hantong.