COSCO Orders Four Asphalt Carriers from Mawei Shipyard

China’s COSCO Shipping Specialized Carriers has placed an order for four 9,000-tonne special liquid cargo ships with Mawei Shipyard, a part of Fujian Shipbuilding.

These vessels were ordered through COSCO Shipping Investment Development, its wholly-owned subsidiary based in Hong Kong, and are designated for asphalt transport.

The total investment in these ships amounts to approximately $98 million, with each ship priced at about $24.5 million. Delivery of the vessels is scheduled between October 2025 and August 2026. COSCO indicated that the project's internal rate of return is around 7.2%, with an investment payback period of 11.8 years.

COSCO noted that asphalt carriers built before 2005 have been phased out of the core market due to global green and low-carbon initiatives. Currently, there are only 21 vessels in the 7,000-9,000 tonne range that are less than 10 years old, making up about 7% of the fleet.

The Chinese company also announced plans to establish a fleet with capacities of 7,500, 9,000, and 13,000 tonnes for asphalt, aiming to enhance its competitiveness in the future market.