Cosco Shipping Specialized Carriers is moving ahead with a major expansion of its specialised fleet, announcing plans to add 14 multi-purpose heavy-lift vessels of 60,000 dwt through a combination of direct newbuilding orders and bareboat charter arrangements.
The expansion will involve both vessels owned by the company and ships operated under long-term charter agreements.
For the owned fleet, wholly owned subsidiary Cosco Shipping (Hong Kong) Investment Development has placed an order with Dalian Cosco Shipping Heavy Industry for eight 60,000 dwt multi-purpose heavy-lift vessels. The ships are scheduled to be delivered progressively between 2029 and 2030.
At the same time, wholly owned subsidiary Xiamen Cosco Shipping Specialized Transportation has agreed to bareboat charter another six vessels of the same type. All six ships will be built by Huanghai Shipbuilding, with the agreements covering an overall lease period of approximately 20 years.
Cosco Shipping Specialized said the decision comes as the global energy infrastructure transition accelerates and Chinese advanced manufacturing companies continue expanding internationally. These developments are expected to support sustained demand for the transportation of specialised general cargo, including wind power equipment, machinery and engineering project cargo.
The company sees multi-purpose heavy-lift vessels as one of the core pillars of its specialised transportation business. However, the segment continues to face a capacity shortfall, making fleet expansion increasingly important.
By pursuing newbuilding projects alongside bareboat charters, Cosco Shipping Specialized aims not only to increase and optimise its multi-purpose heavy-lift capacity, but also to strengthen its ability to independently control vessels obtained through chartering.
The latest announcements also add to a broader fleet expansion already under way. Including eight vessels of the same 60,000 dwt type recently ordered from Chengxi Shipyard, Cosco Shipping Specialized has now announced projects covering a total of 16 new multi-purpose heavy-lift vessels.
