COSCO Shipping Orders 12 Methanol-Powered Container Ships

COSCO Shipping, the fourth largest container shipping company globally, has placed an order for twelve 14,000 TEU container vessels with a sister company in Jiangsu province, China, capping off one of the busiest months for container ship orders worldwide.

The state-owned enterprise is investing $2.15 billion in these methanol dual-fuel vessels, which will be constructed at COSCO Shipping Heavy Industry in Yangzhou.

These ships, designed with significant reefer slot capacity, are intended for deployment on Asia-Latin America trade routes.

As the world’s largest shipowner, COSCO is strongly committed to methanol as a fuel of the future. Last year, the company partnered with three other state-owned entities, State Power Investment Corporation Limited (SPIC), Shanghai International Port Group (SIPG), and China Certification & Inspection Group (CCIC), to create a green methanol industrial chain.

This initiative will encompass the production, transportation, refueling, and certification of green methanol for maritime use.