COSCO plans to place a significant new order for multi-purpose carriers, valued at over $600 million. This move comes shortly after the Chinese shipping giant announced an order for 42 vessels at domestic shipyards.

According to shipbrokers, COSCO intends to double its orderbook at Fujian Mawei Shipbuilding by commissioning 15 additional 82,000-dwt vessels. The company already has a similar number of ships under construction at this shipyard.

These multi-purpose carriers are noted to be pricier than Kamsarmax vessels due to their onboard cranes, tailored for specialized projects. Current valuations for Kamsarmax ships in Chinese yards hover around $37-38 million.

Contracts discussions with shipyards target delivery dates starting from 2027, mostly in 2028, to accommodate the expected influx of vessels. This follows the $2 billion contract COSCO secured last year for 42 bulk carriers.

Despite recent U.S. propositions to impose port fees on Chinese vessels, market insiders suggest that such policies have yet to affect COSCO's operational strategies. However, the potential implementation of these fees could impact the company's extensive fleet.

As geopolitical tensions simmer, COSCO remains under scrutiny as part of a U.S. listing targeting Chinese military-linked firms, a designation that hasn't yet disrupted its global shipping operations.