COSCO Shipping to Expand Dry Bulk Fleet with 42 New Vessels in $2 Billion Deal

. The COSCO Shipping Heavy Industry yards have been tasked with the construction of 20 vessels, including five ultramax bulk carriers with a deadweight tonnage (dwt) of 64,000, thirteen kamsarmax bulk carriers of 80,000 dwt, and two additional bulk carriers slightly larger at 82,000 dwt. Meanwhile, the CSSC Chengxi Shipyard will be responsible for the remaining 22 bulk carriers, all designed to have a dwt of 80,000. This strategic investment reflects COSCO Shipping's commitment to strengthening its position in the global dry bulk market. By expanding its fleet with these advanced vessels, the company aims to enhance its operational capacity and competitiveness in the maritime industry. The newbuilds are expected to support COSCO's long-term growth strategy and meet increasing demand for bulk cargo transportation globally.