The world’s largest shipping company, China’s shipping giant COSCO Shipping Group, is planning a new round of fleet expansion.
COSCO Shipping is launching a new shipbuilding program worth billions of dollars, according to TradeWinds. Multiple shipbuilding sources revealed that COSCO Shipping has reserved over 100 slots at domestic shipyards for ordering multi-purpose vessels, MR product tankers, Aframax product tankers, Newcastlemax bulk carriers, container ships, and semi-submersible vessels.
Although the specific proportion of ship types is still unclear, there are reports that COSCO Shipping plans to order 50 40,000-dwt multi-purpose vessels, which will be operated by COSCO SHIPPING Specialized Carriers, a subsidiary that focuses on operating multi-purpose vessels, semi-submersible vessels, car carriers and pulp vessels.
Another source revealed that based on this fleet expansion plan, COSCO Shipping plans to order and build up to 12 9,000 TEU Neo-Panamax container ships and 12 11,000 TEU container ships.
Currently, COSCO Shipping’s order book exceeds US$18 billion, covering a variety of ship types and totaling nearly 180 vessels. If the above fleet expansion plan goes smoothly, COSCO Shipping’s order book will further expand.
Since the beginning of this year, COSCO Shipping has placed shipbuilding orders with several domestic shipyards. Including option vessels, COSCO Shipping has placed cumulative orders for over 70 vessels from February to July 2025, covering a variety of ship types including gas carriers, container ships, bulk carriers, and multi-purpose vessels.
Specifically, it includes: 4 210,000 DWT bulk carriers and 2+10 210,000 DWT ammonia/methanol reserved bulk carriers from Beihai Shipbuilding, 6 210,000 DWT bulk carriers from COSCO Shipping Heavy Industry (Zhoushan), 2 9,000 DWT asphalt carriers from Huangpu Wenchong Shipbuilding, 2 9,000 DWT asphalt carriers from Mawei Shipbuilding, 15+15 80,000 DWT multi-purpose vessels from Mawei Shipbuilding/Xiamen Shipbuilding Heavy Industry, one 9,200 DWT stainless steel chemical tanker from Wuchang Shipbuilding Industry, and two 88,000 cubic meter VLGCs from COSCO SHIPPING (Qidong) Offshore, 5 18,500 TEU methanol dual-fuel container ships from Nantong COSCO KHI Ship Engineering (NACKS), 9 18,500 TEU methanol dual-fuel container ships from Dalian COSCO KHI Ship Engineering Co Ltd.(DACKS), 1 70,000 DWT semi-submersible vessel from Guangzhou Shipyard International, 2 74,000 DWT methanol reserved crude oil/product tankers from COSCO SHIPPING Heavy Industry (Dalian), 2 114,200 DWT methanol dual-fuel tankers and 2 109,900 DWT methanol dual-fuel crude oil/product tankers from COSCO SHIPPING Heavy Industry (Yangzhou).
According to the official website, China COSCO Shipping Corporation Limited is the merged entity of China Ocean Shipping (Group) Company (COSCO) and China Shipping (Group) Company (China Shipping). Headquartered in Shanghai, it is a super-large state-owned enterprise directly under the administration of the Central Government.
COSCO SHIPPING’s comprehensive global service offerings have built a network and brand advantage. The upstream and downstream supply chains encompassing shipping, terminals, logistics, shipping finance, and shipbuilding and repair have formed a relatively complete industrial structure. The group has invested in 58 terminals worldwide, including 51 container terminals, with an annual container terminal throughput capacity of 130 million TEUs, ranking first in the world. Its global marine fuel sales exceed 30.37 million tons, ranking first in the world. Its annual container manufacturing capacity exceeds 1.44 million TEUs, ranking second in the world. Its container leasing business boasts a fleet of 4 million TEUs, ranking third in the world. Its marine engineering equipment manufacturing orders and ship agency business also rank among the world’s top.
COSCO SHIPPING serves global trade and operates a global network. It takes shipping, ports, logistics and other industries as its foundation and core industries, and empowers industries with digital innovation, industrial and financial integration, equipment manufacturing and value-added services. It focuses on digital empowerment and green and low-carbon development, and strives to build an integrated “shipping + ports + logistics” service system, create a global green, digital and intelligent integrated logistics supply chain service ecosystem, and establish a world-class shipping technology company.
China COSCO Shipping serves global trade and operates a global network. It takes shipping, ports, and logistics as its foundational and core industries, and digital innovation, industry-finance integration, equipment manufacturing, and value-added services as enabling industries. Focusing on digital and intelligent empowerment as well as green and low-carbon development, it is fully committed to building an integrated service system of “Shipping + Ports + Logistics”, creating a global green, digital, and intelligent comprehensive logistics supply chain service ecosystem, and developing itself into a world-class shipping and technology enterprise.
Among them, the shipping industry cluster includes container transportation, dry bulk transportation, oil and gas transportation, special ship transportation and passenger ship transportation, and is committed to consolidating and developing the position of the world’s largest integrated shipping company, ensuring the efficient and smooth operation of the global maritime transportation lifeline, and achieving a historical leap from “global transportation” to “global transportation”.
The equipment manufacturing industrial cluster is mainly engaged in businesses related to shipbuilding, ship repair, offshore engineering and module manufacturing, ship supporting, and the manufacturing of logistics equipment such as containers. It serves both internal and external customers and aims to become a leading enterprise in shipbuilding, container manufacturing and maintenance in China.
As of December 31, 2024, COSCO SHIPPING’s operating fleet will have a combined capacity of 130 million DWT/1,535 vessels, ranking first in the world. Among these, its container fleet boasts 542 vessels with a capacity of 3.388 million TEUs, ranking among the world’s largest. Its dry bulk fleet boasts 468 vessels with a capacity of 49.826 million DWT, its oil and gas fleet boasts 251 vessels with a capacity of 32.8 million DWT, and its general cargo and specialty vessel fleet boasts 207 vessels with a capacity of 7.883 million DWT, all ranking first in the world.