COSCO Shipping Bulk, a leading subsidiary of China COSCO Shipping Corporation, has announced a major fleet expansion with an order for eight 210,000 deadweight ton (dwt) bulk carriers. The company has also secured options for two additional vessels, further strengthening its position in the global dry bulk shipping market.
Details of the New Order
- Vessel Specifications:
- Designed to meet modern emission control and energy efficiency standards.
- Feature a fuel consumption rate of 45.3 tonnes per day, reducing operational costs and environmental impact.
- Shipbuilder: The vessels will be constructed by COSCO Shipping Heavy Industry in Yangzhou, Jiangsu province.
Strategic Purpose
The new bulk carriers will primarily support the transportation needs of the Aluminum Corporation of China (Chalco). These vessels will be used to ship bauxite from Chalco’s overseas mining project in Boffa, Guinea, which began operations last year and has an annual output of 12 million tonnes in its first phase.
Fleet Modernization
This investment aligns with COSCO Shipping Bulk’s long-term strategy to modernize and expand its fleet:
- Current Fleet Size: Over 400 bulk carriers, making it one of the largest operators globally.
- Focus on Sustainability: The new vessels will adhere to stringent environmental regulations, positioning COSCO as a leader in green shipping solutions.
Strengthening Global Supply Chains
The fleet expansion underscores COSCO’s commitment to supporting China’s industrial supply chains and enhancing global trade efficiency. By investing in state-of-the-art vessels, COSCO Shipping Bulk is ensuring reliability and sustainability in meeting the growing demand for bulk commodities.
Stay updated with The Logistic News for the latest developments in maritime and global logistics.
