COSCO Shipping Energy Transportation, a subsidiary of China COSCO SHIPPING Corporation, announced that on December 12, 2025, the company and its affiliates signed contracts with three affiliated shipyards of COSCO Shipping Heavy Industry for the construction of 19 vessels.
The total contract value, inclusive of taxes, amounts to RMB 7.88198 billion (approximately US$1.117 billion). This comes just a few days after China COSCO Shipping Group signed a contract with China State Shipbuilding Corporation for the construction of 87 new vessels.
Among these orders, COSCO SHIPPING Heavy Industry (Dalian) secured 10 vessels across 4 types: Dalian Haineng New Energy ordered 1 LNG dual-fuel 9,000 m³ ethylene carrier at RMB 327.98 million; COSCO SHIPPING Energy Transportation ordered 2 LR1 product/crude oil tankers at RMB 456 million each, totaling RMB 912 million for both; COSCO SHIPPING Energy Transportation ordered 3 MR product/crude oil tankers at RMB 349 million per vessel, totaling RMB 1.047 billion; COSCO SHIPPING Energy Transportation ordered 4 MR crude oil tankers at RMB 342.5 million per vessel, totaling RMB 1.37 billion.
COSCO SHIPPING Heavy Industry (Yangzhou) has secured orders for two ship types totaling four vessels: Hainan Haineng has ordered two methanol dual-fuel LR2 product/crude oil tankers (110,000 DWT), with a contract price of RMB 630 million per vessel, totaling RMB 1.26 billion for both vessels.
COSCO Shipping Heavy Industry (Guangdong) has secured orders for five MR product/crude oil tankers (50,000-ton class), priced at 349 million yuan per vessel, totaling RMB 1.745 billion for the entire order.
The summary of the 19 orders is as follows:
COSCO Shipping Energy Transportation stated that this order for new vessels from an affiliated yards represents a significant initiative for the company to serve the national energy strategy, optimize its fleet structure, seize market development opportunities, and advance green and low-carbon development. Through this transaction, COSCO Shipping Energy Transportation will effectively supplement its key vessel types’ capacity, enhancing its service capabilities and competitiveness in the ethylene and oil product transportation markets.
On December 8, COSCO SHIPPING Group also signed an order for 87 new vessels with China State Shipbuilding Corporation (CSSC), with a total contract value of approximately RMB 50 billion. Of this amount, cross-border RMB settlement accounted for about RMB 47 billion, setting two records in China’s shipbuilding industry: the highest single-contract value and the largest cross-border RMB settlement amount.
These 87 new vessels are being constructed by six shipyards: Jiangnan Shipyard, Dalian Shipbuilding Industry Corporation (DSIC), Wuchang Shipbuilding Industry, Guangzhou Shipyard International, CSSC Chengxi Shipyard, and Qingdao Beihai Shipbuilding. The ship types include ultra-large container ships, ultra-large bulk carriers, ultra-large crude carriers, grain carriers, multi-purpose heavy-lift vessels, MR tankers, ro-ro ferries, and small container ships.
As of now, China COSCO Shipping Group has placed orders for 106 new vessels in December. All orders were awarded to state-owned shipyards in China, with a total value of nearly 60 billion yuan (approximately US$8.502 billion).