DSIC Secures $787 Million Deal to Construct Six VLCCs for COSCO SHIPPING

be settled entirely in RMB, reflecting a significant milestone in domestic maritime trade. The project stems from a resolution announced during COSCO SHIPPING Energy Transportation’s 13th board meeting on November 12, 2024. According to this decision, the company’s subsidiary, COSCO SHIPPING Energy Transportation Hainan, entered into six construction contracts with DSIC and CSTC as joint sellers. The total cost for the six VLCCs, inclusive of taxes, is RMB 5.748 billion, with each vessel priced at RMB 958 million. This agreement underscores DSIC’s expertise in delivering high-capacity, technologically advanced vessels and marks an important expansion for COSCO SHIPPING’s fleet. It also demonstrates a growing emphasis on localized settlement and collaboration within China’s shipbuilding and energy transportation sectors. Delivery timelines and additional project details are yet to be disclosed.