COSCO Shipping Bulk to expand roster with ammonia/methanol-ready quartet

COSCO Shipping Bulk, a subsidiary of China’s state-owned maritime transport giant COSCO Shipping, has tapped compatriot Dalian Shipbuilding Industry (DSIC), an arm of China State Shipbuilding Corporation (CSSC), for the construction of at least four clean fuel-ready bulk carriers.

Per information released by Greece-based shipbroker Intermodal, COSCO Shipping Bulk has also left room to exercise an option for ten more bulkers at DSIC. All vessels are to feature a deadweight tonnage of 210,000. Deliveries are planned to commence sometime in 2028.

As informed, COSCO’s subsidiary is to cash out $77 million for each of the units, bringing the total value of the contract signed for the initial quartet to $308 million. Should the company end up confirming the bookings for all fourteen ships, that number would rise to a whopping $1.08 billion.

Per Intermodal, the bulk carriers will be handed over fitted with engines capable of being converted to run on ammonia and/or methanol, two emerging alternative fuels on which many maritime stakeholders have placed bets in recent times.

Owing to these specifications, the vessels are projected to be able to significantly