China COSCO Shipping Group continues to expand its fleet size

COSCO Shipping Group continues to expand its fleet size, and its subsidiary COSCO Shipping Bulk has placed new orders for bulk carriers.

COSCO Shipping and Jiangsu Hantong Heavy Industry signed a contract for 10 82000 deadweight ton bulk carriers. These ships will be leased to Chinese financial service provider Everbright Financial Leasing in the form of long-term contracts after delivery.

COSCO Shipping Bulk Shipping stated that the signing of this contract will further promote the high-quality development of the shipping industry and deepen cross industry cooperation among shipowners, shipyards, and financial institutions.

COSCO Shipping currently operates a bulk cargo fleet consisting of over 500 vessels.

In August, COSCO SHIPPING announced a series of investment plans for 42 bulk carriers, with COSCO SHIPPING Heavy Industries building 20 bulk carriers and CSSC Chengxi Shipyard building 22 bulk carriers, significantly increasing the fleet size.