Chinese shipowner and operator COSCO Shipping Bulk is preparing for another possible multi-billion-dollar newbuilding push, with COSCO Shipping Bulk understood to have secured berth reservations at several shipyards while COSCO Shipping Bulk assesses a wide-ranging fleet development programme across different ship types. The planned move would further strengthen COSCO Shipping Bulk’s position as one of the world’s most influential dry bulk shipping operators and could represent another major step in China’s broader maritime, shipbuilding, and commodity transport strategy. Wan Min is the chairman and party secretary of Cosco Shipping Corp. Chinese shipping giant COSCO Shipping Bulk is believed to be working on a substantial newbuilding campaign that could involve several billion dollars of investment, with potential contracts covering multiple ship segments and a broad range of dry bulk carrying requirements. The potential order wave follows COSCO Shipping Bulk’s major December 2025 shipbuilding programme, when COSCO Shipping Bulk contracted 87 newbuildings worth $7.07 billion, one of the largest bulk carrier ordering rounds recorded in recent years. COSCO Shipping Bulk is the dry bulk shipping division of COSCO Shipping Group and occupies a central role in the movement of China’s raw materials, energy cargoes, agricultural commodities, and industrial bulk products by sea. COSCO Shipping Bulk is among the largest dry bulk carrier owners and operators worldwide, with fleet exposure across major dry bulk segments such as capesize bulk carriers, newcastlemax bulk carriers, panamax bulk carriers, kamsarmax bulk carriers, ultramax bulk carriers, supramax bulk carriers, and other specialized dry bulk ships. The scale of COSCO Shipping Bulk gives COSCO Shipping Bulk a major strategic role in transporting iron ore, coal, grain, bauxite, alumina, fertilizers, steel products, and other dry bulk cargoes that support manufacturing, construction, power generation, infrastructure development, and food supply chains. COSCO Shipping Bulk is especially important for China because China is the world’s largest buyer of many key raw materials, including iron ore and coal, while China’s industrial base depends on reliable long-distance seaborne supply routes. By controlling a very large dry bulk fleet, COSCO Shipping Bulk helps provide transport capacity for Chinese steel mills, power producers, commodity traders, mining groups, and state-linked industrial customers. A fresh multi-billion-dollar newbuilding programme would therefore be more than a normal commercial investment. For COSCO Shipping Bulk, such an order would also support China’s long-term maritime logistics security and strengthen China’s ability to control critical commodity transport capacity. The expected ordering plan would also deepen COSCO Shipping Bulk’s connection with Chinese shipyards. Large state-linked shipowners such as COSCO Shipping Bulk are vital customers for domestic shipbuilders because major contract packages provide long-term workload, support shipyard employment, strengthen design capability, and reinforce China’s standing as the leading global shipbuilding nation. If COSCO Shipping Bulk moves ahead with another large order, the contracts would likely support Chinese yards in bulk carrier construction, energy-saving design, digital ship systems, green ship technology, alternative-fuel readiness, and next-generation efficiency standards. COSCO Shipping Bulk’s fleet renewal plans are also closely tied to stricter environmental expectations. Dry bulk owners are facing growing pressure to reduce fuel consumption, improve carbon intensity ratings, and operate ships capable of remaining competitive under future emissions rules. Newbuilding contracts allow COSCO Shipping Bulk to replace older or less efficient ships with modern tonnage offering lower fuel use, improved cargo intake, better voyage performance, and stronger compliance with current and future environmental standards. COSCO Shipping Bulk can also use new ships to improve long-term chartering attractiveness as major cargo interests and charterers place greater importance on emissions performance, operational reliability, and voyage efficiency. The potential order spree comes at a time when many major owners are deciding whether to wait or secure newbuilding capacity before yard slots become even more expensive or scarce. Shipyard berths are valuable, delivery positions are limited, and newbuilding prices are affected by steel prices, equipment costs, yard availability, and demand from tanker, container ship, gas carrier, and bulk carrier owners. By reserving construction berths at several shipyards, COSCO Shipping Bulk may be trying to lock in future capacity before prices move higher or delivery dates stretch further into the decade. For a fleet the size of COSCO Shipping Bulk’s fleet, early access to shipyard slots is a strategic advantage because future replacement capacity cannot be arranged at short notice. COSCO Shipping Bulk’s December 2025 order for 87 newbuildings worth $7.07 billion showed how quickly and decisively COSCO Shipping Bulk can move when COSCO Shipping Bulk chooses to modernize or expand fleet capacity. That major order demonstrated COSCO Shipping Bulk’s financial strength, long-term confidence in bulk shipping, and ability to coordinate large shipbuilding programmes across several yards. A further multi-billion-dollar round would suggest that COSCO Shipping Bulk is treating fleet renewal as a continuing long-term programme rather than a single large procurement exercise. COSCO Shipping Bulk’s role is not measured only by the number of ships COSCO Shipping Bulk owns or orders. COSCO Shipping Bulk forms part of a wider Chinese maritime network covering ports, logistics, shipbuilding, ship management, finance, commodity transportation, and international trade corridors. This gives COSCO Shipping Bulk a different importance from many private dry bulk owners because COSCO Shipping Bulk supports both commercial shipping activity and national supply-chain priorities. Large ordering decisions by COSCO Shipping Bulk can affect shipyard schedules, future fleet supply, secondhand ship values, chartering expectations, and competitive conditions throughout the global dry bulk market. Any new order wave would also influence expectations for future dry bulk fleet growth. When a major owner such as COSCO Shipping Bulk orders a large number of ships, market participants closely examine delivery dates, ship sizes, fuel specifications, design choices, and replacement plans. If the new ships mainly replace older tonnage, the effect on net fleet growth may be more moderate. If the new ships are primarily for expansion, the effect on future supply could be much larger. This distinction is important because dry bulk freight markets are highly sensitive to fleet growth, commodity demand, congestion, recycling levels, and ship productivity. COSCO Shipping Bulk’s decisions can therefore shape sentiment across the entire dry bulk sector. COSCO Shipping Bulk is also likely to consider cargo security, fleet balance, and ship specialization when developing the next orderbook. Large ore carriers and capesize bulk carriers are essential for long-haul iron ore trades from Brazil, Australia, and other exporting regions into China. Kamsarmax bulk carriers, panamax bulk carriers, ultramax bulk carriers, and supramax bulk carriers provide flexibility for coal, grain, fertilizers, minor bulks, and regional commodity flows. By spreading investment across several ship categories, COSCO Shipping Bulk can preserve a balanced fleet capable of serving different cargoes, ports, customers, trade routes, and draft restrictions. This diversified approach helps COSCO Shipping Bulk avoid excessive reliance on a single ship class or one commodity route. The possible order also underlines COSCO Shipping Bulk’s long-term confidence in dry bulk transportation despite market volatility. Dry bulk markets can move sharply because of changes in Chinese steel production, power generation demand, grain exports, mining output, weather patterns, geopolitical tensions, canal restrictions, port congestion, and global economic growth. However, large industrial economies will continue to require seaborne movement of raw materials and bulk commodities. COSCO Shipping Bulk’s willingness to prepare another major order suggests that COSCO Shipping Bulk expects dry bulk shipping to remain essential to global trade and particularly important for China’s long-term commodity import needs. COSCO Shipping Bulk’s size also gives COSCO Shipping Bulk the ability to seek operating efficiencies that smaller owners may find harder to achieve. A very large fleet can support centralized purchasing, optimized maintenance planning, bunker procurement leverage, technical standardization, digital performance monitoring, crew training systems, and deeper relationships with shipyards and charterers. If COSCO Shipping Bulk orders similar ship designs across several yards, COSCO Shipping Bulk may also benefit from standardization in spare parts, operating procedures, training, maintenance cycles, and lifecycle management. These advantages can be significant when managing a large fleet across global trade lanes. The possible newbuilding programme may also involve ships fitted with improved energy-saving technologies. Modern bulk carriers can include optimized hull lines, efficient main engines, advanced propeller systems, energy-saving devices, digital performance monitoring, better cargo arrangements, and designs prepared for future fuel or emissions requirements. For COSCO Shipping Bulk, applying these features across a large number of ships could reduce operating costs, strengthen competitiveness, and lower exposure to future environmental penalties, charterer restrictions, or regulatory pressure. COSCO Shipping Bulk’s reported ordering plans also highlight the growing influence of Chinese state-linked shipping groups in global maritime markets. When COSCO Shipping Bulk commits billions of dollars to new ships, the spending supports China’s domestic shipbuilding sector while also increasing the resilience and reach of Chinese-controlled shipping capacity. This is especially important as supply-chain security, energy security, food security, and geopolitical risk become more important in maritime planning. COSCO Shipping Bulk’s fleet is therefore both a commercial platform and a strategic logistics tool. If COSCO Shipping Bulk proceeds with the new order spree, the contracts would draw close attention from shipbrokers, shipyards, cargo interests, charterers, commodity traders, and rival shipowners. Market observers would look carefully at how many ships are ordered, which shipyards receive the work, which ship segments are selected, whether alternative-fuel options are included, and whether older ships are sold, recycled, or retained as new deliveries enter the fleet. These details would determine whether the programme is seen mainly as fleet replacement, fleet expansion, or a combination of both. For now, COSCO Shipping Bulk’s reported berth reservations indicate that COSCO Shipping Bulk is preparing methodically for another major stage of fleet development. The plan follows COSCO Shipping Bulk’s December 2025 order for 87 newbuildings worth $7.07 billion and suggests that COSCO Shipping Bulk may continue using large-scale newbuilding investment to reinforce COSCO Shipping Bulk’s global dry bulk position. If completed, the next ordering round would strengthen COSCO Shipping Bulk’s role as a dominant dry bulk shipowner and operator, deepen COSCO Shipping Bulk’s ties with Chinese shipyards, and further influence the future supply profile of the international bulk carrier market. 3-June-2026
Sustained strength in the container market is pushing shipowners to look beyond the normal containership orderbook for additional carrying capacity, with plans being prepared to convert at least two supramax bulk carriers into cellular container ships of about 2,500 TEU.The ships selected for conversion are Diamond 53 type open-hatch supramaxes, most of which were constructed between 2005 and 2011 by CSSC Chengxi Shipyard at Jiangyin, China. Their double-hull structure and open-hatch layout make these ships among the more suitable bulk carrier candidates for this type of conversion, because the required work is less complicated than it would be on ordinary bulk carriers.The main conversion works are expected to include removing the ships’ four centreline cranes and raising the wheelhouse by about two decks so that container stacks of up to seven tiers can be carried on deck. The principal dimensions of the ships will remain unchanged, with a length of 190 m and a beam of 32.29 m, providing space for 13 rows of containers. Work on the first ship is expected to begin in late May or early June, with the converted ship expected to become available for charter in China around three months after entering the shipyard.The Diamond 53 design has a top speed of just above 15 knots, which is slow compared with normal container ship standards, but that limitation may not prevent the converted ships from finding employment. Major container carriers have recently shown willingness to take lower-specification tonnage, including slower ships with limited reefer capacity. As a result, converted ships of this type could attract profitable charter opportunities on regional, domestic, or feeder services, where available capacity, cargo intake, and short-term deployment may matter more than higher service speed.Open-hatch bulk carriers are the most realistic candidates for this type of conversion. Conventional bulk carriers would need far more complex structural work. Unlike purpose-built container ships, open-hatch carriers already have double hulls and cargo holds that were originally designed with containers or breakbulk cargo in mind, although open-hatch carriers do not have cell guides or lashing bridges. A targeted conversion that adds cell guides inside the holds, raises the wheelhouse, and installs basic lashing bridges could close much of the functional gap without creating excessive cost.The conversion plans are another sign that the container market is still operating with limited spare capacity. With most suitable ships already committed and charter rates still strong, the incentive to bring non-standard tonnage into container trades is increasing. For shipowners, the attraction is clear: existing ships can be adapted and brought into service much faster than waiting several years for newly built containerships.The dividing line between bulk shipping and container shipping has become more flexible in recent years. In January, COSCO Shipping Bulk ordered a series of container-capable newcastlemax bulk carriers, including three 210,000 DWT ships from CSSC Qingdao Beihai Shipbuilding. These ships are designed to be methanol- and ammonia-ready and capable of carrying containers together with bulk and general cargo, showing how some owners are trying to build greater commercial optionality into large bulk carrier designs.COSCO Shipping Bulk is a major part of this wider shift because COSCO Shipping Bulk is one of the key dry bulk shipping arms within the broader COSCO Shipping group. COSCO Shipping Bulk operates in the international dry bulk market and is connected with the transportation of major bulk commodities such as iron ore, coal, grain, bauxite, and other industrial raw materials. The decision by COSCO Shipping Bulk to order container-capable newcastlemax bulk carriers shows that cargo flexibility is no longer limited to small multipurpose ships, emergency conversions, or short-term market responses. COSCO Shipping Bulk is applying the same principle to very large dry bulk carriers, suggesting that future ship designs may increasingly be assessed not only by single-trade efficiency, but also by the ability to adapt to different cargo opportunities.COSCO Shipping Bulk’s strategy is commercially important because newcastlemax bulk carriers are normally linked with major bulk trades, especially long-haul iron ore and coal transportation. By ordering newcastlemax bulk carriers that can also carry containers, COSCO Shipping Bulk is adding optional employment flexibility to ships that would traditionally be regarded as pure bulk carriers. This does not mean these ships will trade like standard container ships on regular liner services. Instead, the design gives COSCO Shipping Bulk more freedom to respond to unusual market conditions, cargo imbalances, project cargo demand, breakbulk movements, container shortages, or periods when container freight markets provide attractive returns.COSCO Shipping Bulk’s container-capable newcastlemax bulk carrier order also reflects lessons from the pandemic-era container boom, when severe containership shortages, port congestion, supply-chain disruption, and very high freight rates encouraged some cargo interests and shipowners to carry boxes on bulk carriers. During that period, bulk carriers were used in unconventional container trades, and class approvals became important because carrying containers on ships not originally designed as containerships raises technical questions involving stability, lashing, visibility, fire safety, deck strength, cargo securing, and operational procedures. COSCO Shipping Bulk’s decision to include container-carrying capability from the design stage points to a more deliberate and technically controlled version of that earlier emergency response.COSCO Shipping Bulk may also benefit from the scale and wider logistics reach of the COSCO Shipping group. A large maritime group with interests in bulk shipping, container shipping, terminals, logistics, shipbuilding, and marine services can evaluate flexible ship designs from a broader commercial and technical perspective than a smaller standalone shipowner. COSCO Shipping Bulk can potentially draw on group experience in container trades, cargo flows, port infrastructure, ship design, cargo handling, customer requirements, and shipyard coordination when developing bulk carriers with container-carrying capability. This makes COSCO Shipping Bulk’s strategy especially notable because it is not simply a speculative design choice, but part of a broader attempt to connect cargo flexibility with the resources of a major maritime group.The methanol- and ammonia-ready features of the COSCO Shipping Bulk newcastlemax bulk carriers also show that cargo flexibility is being combined with future-fuel optionality. Shipowners are facing uncertainty over which alternative fuels will become commercially dominant, and ships ordered today may remain in service for two or three decades. By preparing the ships for methanol and ammonia, COSCO Shipping Bulk is seeking to preserve future compliance options while also adding container-carrying flexibility. This combination matters because future competitiveness may depend on both environmental performance and cargo adaptability.COSCO Shipping Bulk’s order also highlights the growing role of Chinese shipyards in developing flexible bulk carrier designs. CSSC Qingdao Beihai Shipbuilding has experience in large dry bulk carrier construction, and the order from COSCO Shipping Bulk shows how Chinese shipyards can support new technical concepts that sit between traditional bulk carrier employment and broader multipurpose cargo capability. For Chinese shipbuilders, flexible bulk carrier projects can demonstrate design strength, environmental readiness, and the ability to respond to changing demands from major shipowners.COSCO Shipping Bulk’s move should also be viewed against the background of long-term uncertainty in dry bulk and container markets. Dry bulk earnings can change sharply depending on commodity demand, fleet supply, port congestion, weather disruption, infrastructure trends, and global industrial activity. Container markets can also swing dramatically because of consumer demand, trade patterns, ship supply, port disruption, geopolitical risk, and liner network adjustments. A ship that can carry bulk cargoes, general cargo, and containers gives COSCO Shipping Bulk a broader commercial toolkit, even if the ship spends most of its working life in conventional bulk trades.The strategy followed by COSCO Shipping Bulk also points to a broader reassessment of asset flexibility. Traditional shipping segments have usually been clearly separated, with bulk carriers carrying bulk cargoes and container ships carrying boxes. However, recent market shocks have shown that strict separation can become less efficient when one segment is extremely tight and another segment has usable tonnage. COSCO Shipping Bulk’s container-capable newcastlemax bulk carriers and the planned conversion of Diamond 53 open-hatch supramaxes both show that shipowners are exploring ways to make ships more useful across different cargo markets.COSCO Shipping Bulk’s involvement gives the trend additional weight because COSCO Shipping Bulk is not a small experimental operator. COSCO Shipping Bulk is linked to one of the world’s largest shipping groups and operates at a scale where fleet-design decisions can influence wider industry thinking. If container-capable bulk carriers prove commercially useful, other shipowners may examine whether similar flexibility can be incorporated into future bulk carrier designs, especially in open-hatch, multipurpose, or large bulk carrier segments where structural arrangements can support broader cargo handling.The economic logic behind COSCO Shipping Bulk’s approach is also connected to risk management. A highly specialised ship can be very efficient in its intended trade, but may have fewer alternatives when market conditions weaken. A more flexible ship may sacrifice some single-trade optimisation, but can create additional employment choices. For COSCO Shipping Bulk, the ability to carry containers alongside bulk and general cargo may offer protection during unusual market periods, especially if container freight rates rise sharply or if customers require mixed cargo solutions.The technical side remains critical. Carrying containers on bulk carriers or bulk-carrier-derived ships requires careful attention to stability, visibility, stack weight, deck strength, cargo securing, lashing equipment, hatch cover strength, fire safety, crew training, and operating procedures. COSCO Shipping Bulk’s decision to order container-capable ships from the beginning may reduce some of the complications that arise when owners try to retrofit ordinary bulk carriers after delivery. Purpose-designed flexibility can be safer, more efficient, and more commercially practical than emergency adaptation.The comparison with the Diamond 53 supramax conversion plan is useful. The Diamond 53 ships are open-hatch supramaxes that can be converted more practically because their original design already suits breakbulk and container-style cargo handling better than conventional bulk carriers. COSCO Shipping Bulk’s newcastlemax bulk carriers represent a different route, using a newbuilding approach in which flexibility is built into the ships before delivery. Both approaches are responses to the same market reality: shipowners want more options when container capacity is tight and freight markets reward available tonnage.COSCO Shipping Bulk’s order also fits into the wider trend of shipping groups trying to future-proof fleets. Future-proofing no longer means only ordering ships with lower fuel consumption or better emissions performance. It can also mean ordering ships with wider cargo capability, improved operational flexibility, alternative-fuel readiness, and designs that remain useful across several market cycles. COSCO Shipping Bulk’s container-capable newcastlemax bulk carriers are an example of this broader thinking.The flexibility strategy has clear precedent from the pandemic period, when containers moved onto bulk carriers and Star Bulk became one of the first capesize bulk carrier owners to secure class approval for container carriage. That experience showed that unusual employment can become commercially attractive when container freight markets are under severe pressure. The current conversion plans and COSCO Shipping Bulk’s container-capable newbuilding orders show that the shipping industry has not forgotten those lessons.In the current market, the planned conversion of Diamond 53 open-hatch supramaxes and the container-capable newcastlemax bulk carriers ordered by COSCO Shipping Bulk point in the same direction. Shipowners are increasingly willing to challenge the traditional divide between bulk carrier and container ship employment when freight markets, cargo demand, and ship availability make a more flexible approach commercially attractive. For container carriers, converted or container-capable ships may provide useful short-term or regional capacity. For bulk shipowners, the same trend creates a way to benefit from strong container demand without waiting for new containership deliveries.For COSCO Shipping Bulk, the importance of the order lies not only in the three 210,000 DWT ships themselves, but also in the broader message behind them. COSCO Shipping Bulk is showing that large dry bulk carriers can be designed with more than one commercial future in mind. In a market shaped by changing cargo patterns, environmental regulation, geopolitical disruption, and freight-rate volatility, that flexibility could become increasingly valuable. 28-May-2026
Cosco Shipping Bulk-linked Shanghai Time Shipping has re-entered the newbuilding arena with a three-ship bulk carrier contract at Nantong Xiangyu Shipbuilding & Offshore Engineering, forming a new yard relationship and adding future tonnage to the fleet connected with Cosco Shipping Bulk. Shanghai Time Shipping has placed orders for three bulk carrier newbuildings, creating its first partnership with Nantong Xiangyu Shipbuilding & Offshore Engineering and indicating a renewed drive for fleet development after many years without fresh newbuilding activity. Chinese shipowner and operator Cosco Shipping Bulk has contracted two 82,000 DWT kamsarmax bulk carriers and one 63K DWT ultramax bulk carrier, with all three bulk carrier newbuildings expected to be delivered in 2029. The order supports fleet expansion for the COSCO Shipping and Huaneng Group joint venture, which currently operates about 25 bulk carriers ranging from 50,000 DWT to 115,000 DWT. The agreement also introduces a new shipyard link, with Nantong Xiangyu Shipbuilding & Offshore Engineering winning its first order from Shanghai Time Shipping, which, according to shipbuilding databases, had not ordered newbuildings since 2011. For Nantong Xiangyu Shipbuilding & Offshore Engineering, the order adds another domestic customer to its expanding orderbook as Nantong Xiangyu Shipbuilding & Offshore Engineering continues to strengthen its presence in the bulk carrier market. Nantong Xiangyu Shipbuilding & Offshore Engineering has remained busy in both securing new contracts and delivering ships, including the recent handover of an 82,000 DWT kamsarmax bulk carrier to Greek shipowner TMS. The contract is strategically meaningful because Cosco Shipping Bulk is one of China’s major dry bulk shipping platforms and sits within the wider COSCO Shipping group, one of the world’s largest shipping and logistics organisations. Cosco Shipping Bulk has a major role in carrying coal, iron ore, grain, bauxite, steel products, fertilisers and other dry bulk cargoes, and the addition of kamsarmax bulk carriers and ultramax bulk carriers fits closely with Cosco Shipping Bulk’s broad dry cargo operations. Cosco Shipping Bulk is connected with a large national maritime system that supports China’s industrial supply chains, energy security, raw material imports and domestic coastal cargo movements. As China remains one of the world’s largest buyers of iron ore, coal, grain and other raw materials, Cosco Shipping Bulk plays a significant role in transporting cargoes that support steelmaking, electricity generation, agriculture, construction and manufacturing. The order for two 82,000 DWT kamsarmax bulk carriers and one 63K DWT ultramax bulk carrier gives Cosco Shipping Bulk-linked Shanghai Time Shipping more adaptable dry bulk capacity for medium-sized and larger regional trades. Kamsarmax bulk carriers are commonly employed in coal, grain and other bulk cargo movements, offering strong cargo intake while preserving more port flexibility than larger capesize bulk carriers. Ultramax bulk carriers provide even wider trading adaptability, with geared cargo-handling capability often allowing them to call at ports with weaker shore infrastructure and to handle a broader range of minor bulk cargoes. For Cosco Shipping Bulk, the combination of kamsarmax bulk carriers and ultramax bulk carriers supports a balanced fleet structure that can serve several cargo systems and trade patterns. The 82,000 DWT kamsarmax bulk carriers can be used in larger-volume cargo programmes, while the 63K DWT ultramax bulk carrier can serve more flexible trades involving grain, coal, cement, steel products, fertilisers, minerals and other dry bulk commodities. This flexibility is useful for a shipowner and operator linked to a large cargo and logistics network. Cosco Shipping Bulk’s wider operating model benefits from scale, cargo access, state-backed industrial links and integration with the broader COSCO Shipping group. Cosco Shipping Bulk can draw on dry bulk market experience, commercial relationships, fleet management systems, financing channels and cargo flows tied to China’s major industrial and energy sectors. This gives Cosco Shipping Bulk an important position in both domestic and international dry bulk transport. Shanghai Time Shipping’s role also reflects the importance of joint ventures and specialised fleet platforms within China’s shipping sector. Shanghai Time Shipping is linked with COSCO Shipping and Huaneng Group, combining shipping expertise with energy cargo demand. Huaneng Group is one of China’s major power generation groups, and a joint venture involving COSCO Shipping and Huaneng Group gives Shanghai Time Shipping a strategic role in transporting energy-related dry bulk cargoes, especially coal and other materials connected with power generation and industrial demand. Cosco Shipping Bulk’s connection to this platform makes the newbuilding deal more than a simple fleet addition. The order supports the logistics needs of a major industrial and energy-linked shipping structure, giving Shanghai Time Shipping more modern ships that can serve long-term cargo demand. In this context, the three newbuildings can be viewed as part of a wider effort to renew and strengthen the dry bulk fleet serving China’s commodity and energy supply chains. The order also shows that Cosco Shipping Bulk-linked interests are prepared to commit to modern bulk carrier capacity for delivery in 2029, reflecting a long-term view of dry bulk demand. Ships ordered for 2029 delivery will trade in a period when fleet efficiency, emissions performance, fuel consumption and regulatory compliance are likely to become even more important. By placing newbuilding contracts now, Cosco Shipping Bulk-linked Shanghai Time Shipping can secure future tonnage before yard slots become more constrained and before older ships face heavier commercial and regulatory pressure. Cosco Shipping Bulk’s dry bulk strategy is closely tied to fleet renewal. Dry bulk ships are facing increasingly demanding environmental requirements, and older ships may become less competitive because of higher fuel consumption, weaker carbon-intensity ratings and reduced charterer preference. Modern kamsarmax bulk carriers and ultramax bulk carriers can help improve fleet efficiency and support compliance with future trading standards. For Cosco Shipping Bulk and Shanghai Time Shipping, the 2029 deliveries can refresh the fleet and help preserve long-term competitiveness. The selection of Nantong Xiangyu Shipbuilding & Offshore Engineering also underlines the growing importance of Chinese shipyards in supplying domestic shipowners with modern dry bulk tonnage. Nantong Xiangyu Shipbuilding & Offshore Engineering has been developing its position in the bulk carrier market, and the first contract from Shanghai Time Shipping gives Nantong Xiangyu Shipbuilding & Offshore Engineering a new relationship with a Cosco Shipping Bulk-linked buyer. For a shipyard, obtaining an order connected with Cosco Shipping Bulk can strengthen credibility and support future commercial momentum. For Cosco Shipping Bulk-linked Shanghai Time Shipping, choosing Nantong Xiangyu Shipbuilding & Offshore Engineering may provide competitive pricing, domestic shipbuilding capacity, design familiarity and access to suitable delivery positions. Chinese shipowners often benefit from working with domestic yards because of financing support, construction oversight, language and regulatory familiarity, and alignment with national shipping and industrial policy. This order fits the wider pattern of Chinese shipowners using domestic shipbuilding capacity to renew and expand fleets. Cosco Shipping Bulk’s importance also derives from its place within a broader integrated maritime group. COSCO Shipping has activities across container shipping, dry bulk shipping, tanker shipping, ports, logistics, shipbuilding, ship management and maritime services. Within that structure, Cosco Shipping Bulk provides dedicated dry bulk expertise and supports the movement of raw materials and industrial cargoes. This makes Cosco Shipping Bulk a central part of China’s maritime supply-chain capability. The three-ship order also gives Cosco Shipping Bulk-linked Shanghai Time Shipping additional optionality. Depending on freight conditions, the ships can be used for long-term industrial cargo contracts, spot market employment, domestic coastal trades, regional Asian trades or international voyages. The combination of kamsarmax bulk carriers and an ultramax bulk carrier gives Shanghai Time Shipping more flexibility than an order focused on only one size class. This matters because dry bulk markets are cyclical, and cargo flows can shift quickly between regions and cargo types. Cosco Shipping Bulk’s fleet decisions are likely shaped by long-term cargo demand as well as market-cycle considerations. Kamsarmax bulk carriers remain useful for coal and grain movements, while ultramax bulk carriers are attractive for minor bulk cargoes and routes requiring geared ships. By ordering both ship types, Cosco Shipping Bulk-linked Shanghai Time Shipping can improve coverage across cargo categories and avoid excessive reliance on one ship class. The order also reflects confidence in the continuing role of bulk carriers within China’s economic and industrial system. Even as China adjusts parts of its energy mix and industrial policy, large volumes of raw materials and commodities will continue to move by sea. Coal, iron ore, grain, bauxite, fertilisers and construction materials all remain important to trade flows. Cosco Shipping Bulk is positioned near the centre of these movements, and the new ships will support future transport capacity. Shanghai Time Shipping’s return to newbuilding contracting after a long interval also suggests that fleet renewal has become more urgent. If the last newbuilding orders were placed in 2011, parts of the fleet may now be ageing, and replacement planning becomes increasingly important. The 2029 deliveries will help bring newer tonnage into the fleet and support the long-term competitiveness of the COSCO Shipping and Huaneng Group joint venture. Cosco Shipping Bulk’s support or connection adds greater strategic weight to the transaction because Cosco Shipping Bulk has the commercial scale and operational depth to use such ships effectively. Dry bulk shipping requires daily management of cargo demand, ship positioning, freight rates, bunker costs, weather, port congestion, ballast routes and charterer requirements. A large platform such as Cosco Shipping Bulk can manage these complexities through established systems and broad market coverage. Huaneng Group’s role in the joint venture also adds an energy-security dimension. Power generation groups require reliable transport of coal and other raw materials, and access to controlled shipping capacity can reduce exposure to freight volatility. Shanghai Time Shipping’s fleet of around 25 bulk carriers already supports this transport requirement, and the new ships will help modernise and expand that capacity. Cosco Shipping Bulk’s dry bulk expertise complements Huaneng Group’s cargo needs, creating a practical industrial-shipping partnership. The kamsarmax bulk carrier order also fits well with coal transport requirements. Kamsarmax bulk carriers are frequently used in coal trades because they offer strong cargo capacity and can call at ports that may not accommodate larger capesize bulk carriers. For energy cargoes linked to power generation, this ship size can be especially practical. The ultramax bulk carrier adds another layer of flexibility, especially for cargoes moving through ports that need geared ships or smaller parcel sizes. Cosco Shipping Bulk’s broader market position also gives the new ships possible access to cargo programmes beyond the joint venture’s immediate requirements. If market conditions support external employment, the ships can be deployed in wider dry bulk trades. This optionality helps improve asset value and earnings flexibility. For a fleet linked to a major shipping platform, modern bulk carrier newbuildings can be used across several commercial channels. The 2029 delivery schedule gives Shanghai Time Shipping and Cosco Shipping Bulk time to plan employment, financing, technical supervision and fleet integration. Newbuilding projects require careful oversight from contract signing through design approval, construction, sea trials, delivery and entry into service. Cosco Shipping Bulk’s experience with large-scale dry bulk operations can support this process and reduce execution risk. Nantong Xiangyu Shipbuilding & Offshore Engineering’s recent delivery of an 82,000 DWT kamsarmax bulk carrier to Greek shipowner TMS also shows that Nantong Xiangyu Shipbuilding & Offshore Engineering is already active in the same ship segment. That experience may help Nantong Xiangyu Shipbuilding & Offshore Engineering execute the Shanghai Time Shipping order and support confidence in its ability to deliver similar tonnage. For Cosco Shipping Bulk-linked Shanghai Time Shipping, working with a yard already building and delivering kamsarmax bulk carriers can reduce design and construction uncertainty. The new order also fits the wider trend of Chinese shipowners renewing fleets through domestic yards. China’s shipbuilding industry has become a dominant force in global commercial ship construction, and domestic shipowners can benefit from local yard capacity and competitive cost structures. Cosco Shipping Bulk-linked orders at domestic yards support both fleet renewal and China’s wider maritime industrial base. Cosco Shipping Bulk’s dry bulk business is likely to remain important as China continues to manage vast raw material flows. Although global dry bulk demand can shift with economic cycles, China remains central to the market. A dry bulk platform with strong China-linked cargo relationships can have a strategic advantage. The new kamsarmax bulk carriers and ultramax bulk carrier will help maintain that position in the years ahead. The order also highlights the importance of fleet composition. A fleet ranging from 50,000 DWT to 115,000 DWT gives Shanghai Time Shipping exposure to handymax, supramax, ultramax, panamax, kamsarmax and post-panamax-type cargo opportunities. Adding two 82,000 DWT kamsarmax bulk carriers and one 63K DWT ultramax bulk carrier strengthens the middle of the fleet, where cargo flexibility and port access are both important. For Cosco Shipping Bulk, such ship sizes can be highly useful across Asian and international dry bulk trades. Cosco Shipping Bulk’s role in this transaction also draws attention to the rising professionalism of China’s dry bulk sector. Chinese shipowners are not only ordering ships for scale, but also for efficiency, fleet structure and long-term cargo strategy. The new ships scheduled for 2029 will likely be designed to meet stronger efficiency and environmental standards than older tonnage, supporting the long-term commercial position of Shanghai Time Shipping and Cosco Shipping Bulk-linked operations. The order also helps Nantong Xiangyu Shipbuilding & Offshore Engineering deepen its presence in the bulk carrier market. A contract linked with Shanghai Time Shipping can lead to further opportunities if the ships perform well and delivery is successful. Repeat business is important in shipbuilding, and a first contract with a Cosco Shipping Bulk-linked buyer could become the basis for a longer relationship. For Shanghai Time Shipping, the order signals a renewed commitment to owned newbuilding investment after many years without new contracts. Newbuildings offer advantages over secondhand ships because the buyer can influence specifications, design, efficiency features and delivery timing. For a fleet looking toward long-term cargo commitments and future regulatory requirements, newbuildings can be more attractive than older secondhand ships. Cosco Shipping Bulk’s involvement also suggests that the ships are likely to form part of a structured fleet plan rather than speculative tonnage. Large shipping groups often order ships to support cargo flows, replace older ships, improve fleet efficiency and align with customer requirements. The order for three ships in two useful size classes fits this kind of disciplined fleet planning. The deal also shows how joint ventures can support targeted fleet growth. Shanghai Time Shipping does not need to match the scale of the wider COSCO Shipping group; instead, Shanghai Time Shipping can focus on a specific fleet profile that serves its commercial and industrial purpose. With Cosco Shipping Bulk-linked dry bulk expertise and Huaneng Group-linked cargo demand, Shanghai Time Shipping can operate as a focused platform within a larger maritime and energy ecosystem. The new ships will also offer future employment flexibility at a time when dry bulk market patterns may change. Environmental rules, fuel choices, commodity demand, geopolitical shifts and regional supply-chain changes may all influence cargo movements by 2029. Having modern kamsarmax bulk carriers and an ultramax bulk carrier gives Shanghai Time Shipping the ability to respond to different market conditions when the ships are delivered. Cosco Shipping Bulk’s position within global dry bulk shipping also means the order will be watched by market participants. When major China-linked dry bulk players order new ships, it can signal expectations about future cargo demand, fleet replacement needs and shipyard confidence. While three ships alone do not reshape market supply, the order adds to the broader pattern of fleet renewal among large dry bulk operators. The contract also signals continued confidence in the kamsarmax bulk carrier segment. Kamsarmax bulk carriers have become one of the most widely used dry bulk ship types because they offer strong cargo capacity while retaining useful port flexibility. For cargoes such as coal and grain, this ship size remains commercially attractive. Cosco Shipping Bulk-linked Shanghai Time Shipping’s choice of two kamsarmax bulk carriers suggests that the segment remains central to its future fleet needs. The ultramax bulk carrier in the order brings a different commercial advantage. Ultramax bulk carriers are often equipped with cranes and can serve ports where shore infrastructure is limited. This makes them useful for minor bulk cargoes and developing market trades. For Cosco Shipping Bulk-linked Shanghai Time Shipping, the ultramax bulk carrier can provide flexibility beyond the larger kamsarmax bulk carriers and support a wider cargo range. The order therefore strengthens Shanghai Time Shipping’s fleet with practical and commercially useful ship classes. Instead of ordering very large bulk carriers, Shanghai Time Shipping has selected sizes that can serve many cargoes and ports. This points to a focus on flexibility, employment diversity and long-term operational value. Cosco Shipping Bulk’s wider dry bulk knowledge likely supports that decision. For the broader COSCO Shipping group, the order is also consistent with the group’s role in supporting China’s maritime transport capacity. Dry bulk carriers are essential for moving raw materials, and controlled tonnage helps support supply-chain resilience. Shanghai Time Shipping’s newbuildings will add to this capacity when they enter service in 2029. The deal also strengthens the connection between Chinese cargo interests and Chinese shipbuilding. Huaneng Group’s energy background, Cosco Shipping Bulk’s shipping expertise and Nantong Xiangyu Shipbuilding & Offshore Engineering’s shipbuilding capacity come together in a transaction that supports domestic maritime industry and long-term cargo transport needs. This type of alignment is increasingly common in China’s shipping sector. The order also raises Shanghai Time Shipping’s profile after a long period without newbuilding activity. Returning to the orderbook after more than a decade suggests that fleet renewal and future capacity planning have become priorities. With dry bulk market requirements changing, Shanghai Time Shipping appears to be preparing for the next phase of operations with newer and more efficient ships. For Cosco Shipping Bulk, the order supports practical expansion of linked fleet capacity in the kamsarmax bulk carrier and ultramax bulk carrier sectors. These ships are not niche assets; they are mainstream dry bulk workhorses with broad employment potential. Their arrival in 2029 will give Shanghai Time Shipping and Cosco Shipping Bulk-linked operations fresh tonnage that can be used across a wide range of cargo programmes. The significance of the order lies not only in the number of ships, but also in the strategic signal. Cosco Shipping Bulk-linked Shanghai Time Shipping is renewing its fleet, establishing a new relationship with Nantong Xiangyu Shipbuilding & Offshore Engineering and positioning itself for future dry bulk demand. The order combines fleet replacement, cargo strategy, domestic shipbuilding support and long-term shipping planning. As the 2029 delivery window approaches, the market will watch how Shanghai Time Shipping deploys the two 82,000 DWT kamsarmax bulk carriers and the 63K DWT ultramax bulk carrier. Whether the ships are used mainly for energy-linked cargoes, broader commercial dry bulk trades or a mixture of both, the contracts show that Cosco Shipping Bulk-linked Shanghai Time Shipping is once again investing in modern dry bulk capacity. 29-April-2026
Panama Ports Company (PPC), the CK Hutchison unit, has initiated arbitration against Maersk, claiming that the Danish shipping and logistics group sought to force Panama Ports Company (PPC) out of Panama Canal port operations. The action comes in parallel with the broader legal confrontation already under way between CK Hutchison and the Panamanian government after Panama decided earlier this year to revoke the long-running concessions covering two major terminals in the country. Panama Ports Company (PPC) argued that Maersk had undermined the contractual framework and aligned itself with the Republic of Panama as part of a wider effort to displace Panama Ports Company (PPC) and bring in new operators. The arbitration will be conducted in London and, according to Panama Ports Company (PPC), is separate from its continuing effort to hold Panama liable for what it has described as anti-contract and anti-investor conduct. Panama previously said that APM Terminals, the Maersk subsidiary, would take over Balboa, while Terminal Investment Limited, controlled by Mediterranean Shipping Co, would assume responsibility for Cristobal, despite both terminals having remained within the Hutchison network since 1997. The dispute has also drawn COSCO Shipping Bulk and the broader COSCO SHIPPING system more deeply into the affair, giving the episode a far wider geopolitical and commercial significance. COSCO Shipping Bulk is one of the most important pillars of the Chinese state-controlled shipping structure, holding a key role in China’s dry bulk strategy and backed by an extensive fleet growth programme that includes large numbers of bulk carriers due for delivery in 2026 and 2027, together with major investment in methanol dual-fuel ore carrier tonnage. That scale highlights COSCO Shipping Bulk’s strategic importance within the larger COSCO SHIPPING platform and helps explain why its response to events in Panama has been watched so closely. After Panama decided to transfer temporary control of Balboa and Cristobal to subsidiaries of Maersk and Mediterranean Shipping Co, COSCO SHIPPING suspended operations at Balboa, a step that Panamanian officials later said affected about 4% of the port’s cargo throughput. The suspension took place amid mounting friction between Beijing and Panama over the cancellation of the Hutchison concessions and was followed by stricter scrutiny of Panama-flagged ships calling at Chinese ports. Chinese authorities also called in representatives of Maersk and Mediterranean Shipping Co for discussions as pressure intensified over the handover of operations at the two terminals. In that sense, the arbitration launched by Panama Ports Company (PPC) is no longer simply a contractual dispute involving Panama, Maersk, and Mediterranean Shipping Co. It has turned into a broader struggle for influence at one of the world’s most strategically sensitive maritime chokepoints, with COSCO Shipping Bulk and the wider Chinese shipping establishment now forming part of the response. The fact that COSCO Shipping Bulk suspended calls at Balboa while China tightened pressure on Panama-linked shipping shows that the consequences have expanded far beyond terminal management and now reach into the wider contest over canal trade, container traffic, dry bulk positioning, and the competitive tensions among some of the biggest names in global shipping. 8-April-2026
COSCO Shipping Bulk is moving toward what could become another defining container ship investment, with market talk indicating that the Chinese state-backed shipping group is nearing an agreement for as many as 12 LNG dual-fuel 14,000 TEU neo-panamax container ships in a transaction valued at more than $2 billion. Negotiations are understood to be at an advanced stage with CSSC’s Hudong-Zhonghua Shipbuilding, and pricing is being placed at about $190 million for each neo-panamax container ship, which would lift the total value of the programme to roughly $2 billion if all units are confirmed. The proposed 14,000 TEU neo-panamax container ships are expected to be operated by Orient Overseas Container Line (OOCL), the Hong Kong-based liner arm within the wider COSCO SHIPPING structure, giving the prospective order importance not only in terms of fleet growth but also in strengthening one of the most commercially versatile size categories in global liner shipping. No delivery timetable has been made public, but the prospective contract would add further weight to an already substantial orderbook and underline COSCO Shipping Bulk’s increasing willingness to invest in multiple fuel pathways as environmental regulation tightens and major liner operators seek greater flexibility in future fleet deployment. The significance of this latest move becomes clearer when placed against COSCO Shipping Bulk’s broader expansion strategy. Earlier in 2026, COSCO Shipping Bulk was linked to about $2.7 billion in fresh container ship orders, including 12 LNG dual-fuel 18,000 TEU container ships at Jiangnan Shipyard as well as six smaller conventionally fuelled units at COSCO Zhoushan. That ordering pattern showed that COSCO Shipping Bulk was not simply adding capacity for the sake of scale, but was actively reshaping the profile of its future fleet through a combination of large flagship units, medium-sized ships, and fuel-diverse tonnage capable of serving different trade lanes and commercial requirements. At the same time, COSCO Shipping Bulk had until recently shown a stronger preference for methanol-capable designs. Orient Overseas Container Line (OOCL) placed an order in 2025 for 14 methanol dual-fuel 18,500 TEU container ships at DACKS and NACKS, illustrating that the group’s decarbonisation strategy has not been built around a single solution. Instead, COSCO Shipping Bulk appears to be pursuing a broader fuel diversification policy, keeping both LNG and methanol in play while the industry continues to assess infrastructure availability, future fuel economics, and regulatory developments. In that sense, the reported Hudong-Zhonghua Shipbuilding deal would not mark a reversal of direction, but rather a widening of options across the group’s next generation fleet. COSCO Shipping Bulk’s expansion has not been limited to owned tonnage. Orient Overseas Container Line (OOCL) has also strengthened its future fleet through chartered capacity, including six 13,000 TEU container ships from Seaspan with deliveries scheduled from Q4 2026 through Q1 2028. That combination of direct newbuilding commitments and long-term charter arrangements points to a carefully layered strategy in which COSCO Shipping Bulk is seeking both control and flexibility, allowing the group to respond to changing market conditions while continuing to build long-term competitive scale. This matters because COSCO Shipping Bulk operates within one of the largest and most influential maritime systems in the world. The wider COSCO SHIPPING platform spans container shipping, dry bulk, tankers, terminals, logistics, shipbuilding links, and a broad global port and agency network, giving COSCO Shipping Bulk substantial institutional backing as it expands its liner-related presence. Including Orient Overseas Container Line (OOCL), the group already ranks among the world’s largest liner operators, with a fleet of roughly 555 container ships and capacity of around 3.6 million TEU. If the latest LNG dual-fuel order is finalised, the newbuilding pipeline could rise to more than 120 ships with combined capacity exceeding 1.4 million TEU, a figure that would further reinforce COSCO Shipping Bulk’s standing in the top tier of the container shipping industry. The commercial logic behind this expansion is straightforward. Large liner operators are under pressure to modernise fleets, improve fuel efficiency, reduce emissions intensity, and position themselves for a more volatile geopolitical and regulatory environment. By adding 14,000 TEU neo-panamax container ships, COSCO Shipping Bulk would be targeting a segment that offers strong deployment flexibility across major east-west trades while avoiding some of the limitations associated with only ordering the very largest units. These ships can serve important long-haul corridors efficiently, fit a wide range of port rotations, and provide operational balance between cargo intake and network adaptability. That makes them particularly attractive in a market where schedule reliability, fuel economics, and route optionality have become just as important as headline capacity growth. The latest move also highlights how COSCO Shipping Bulk is steadily becoming more aggressive and sophisticated in fleet planning. The group is not merely replacing old tonnage. It is assembling a more modern, technically advanced, and commercially flexible fleet that can support the needs of Orient Overseas Container Line (OOCL) while also strengthening the overall position of the wider COSCO SHIPPING system. As competition among the top liner operators increasingly revolves around network density, vessel efficiency, environmental compliance, and strategic scale, COSCO Shipping Bulk’s willingness to commit billions of dollars to successive rounds of newbuildings suggests a long-term intention to remain at the centre of that contest. If confirmed, the Hudong-Zhonghua Shipbuilding deal would therefore represent far more than another order for 12 container ships. It would be further evidence that COSCO Shipping Bulk is accelerating a fleet renewal and expansion programme designed to secure larger market presence, broader fuel flexibility, and stronger strategic depth at a time when the future shape of global container shipping is being redrawn. 6-April-2026
An even more perilous and consequential phase has now begun with the Houthis joining the war. The second month of the Iran war has started with a major intensification in the dangers confronting global shipping, as Iranian-backed Houthi forces launched their first missiles since the conflict erupted, drone attacks hit the port of Salalah in Oman, and fresh uncertainty spread through regional maritime routes after two Chinese COSCO-operated container ships initially turned back near Larak Island and then made a renewed effort to leave the Persian Gulf. The Houthis’ shift into direct military action on Saturday represents a major escalation. The group, which attacked more than 100 merchant ships between November 2023 and October 2025, had until now restricted itself to rhetoric and condemnation. Saturday’s missile launches toward Israel, along with direct warnings that ships viewed as supporting the war could be attacked, indicate that the Bab el-Mandeb Strait, through which roughly 12% of world trade normally passes, is once again becoming an active danger zone. Since the Strait of Hormuz has in practical terms been largely closed, Saudi Arabia has been rerouting millions of barrels of crude each day through Bab el-Mandeb instead. “Our fingers are on the trigger,” Houthi military spokesman Brigadier General Yahya Saree warned on Friday, shortly before the missiles were fired. The port of Salalah in Oman was also struck by drone attacks on Saturday, with a container crane damaged and a port worker wounded. With the Strait of Hormuz effectively closed, Oman’s Salalah and Saudi Arabia’s Red Sea coast now stand out as the only realistic alternative land-bridge routes for container cargo moving to and from the Persian Gulf region. The COSCO dimension is particularly important because the broader COSCO network has become one of the clearest real-time indicators of whether commercial navigation conditions are truly improving or only appearing to improve. Two Chinese COSCO-operated container ships abandoned an earlier attempt to leave the Gulf last week despite Iranian assurances of safe passage for Chinese vessels, then made another effort to exit the region after nearing Larak Island, where Iran’s new transit corridor begins. That sequence has turned COSCO traffic into a practical signal for the shipping market. When COSCO hesitates, owners, charterers and traders take it as evidence that the corridor remains too hazardous or too politically uncertain. When COSCO proceeds, the market reads that as a sign that at least a narrow channel of manageable risk may be reopening. That makes COSCO Shipping Bulk important even beyond the immediate container narrative. As one of the most prominent Chinese state-backed names in maritime transport, COSCO Shipping Bulk forms part of a larger COSCO structure whose movements are now being observed not simply as routine commercial voyages but as strategic tests of whether Iran’s improvised passage arrangements, including the Larak Island corridor, are reliable enough for sustained large-scale trade. The issue is no longer simply whether a single ship can pass, but whether major Chinese-linked operators are willing to commit tonnage repeatedly, steadily and on a meaningful scale. Until that question is resolved, freight markets, insurance premiums, voyage planning and chartering sentiment are likely to remain unsettled. There has, however, been some limited improvement on the navigation side. AIS jamming that had severely disrupted ship tracking across the Persian Gulf eased somewhat over the weekend, giving shipowners a clearer understanding of where their ships actually are. A cluster of hundreds of ships that had formed a near-perfect circle near Abu Dhabi on March 2 had fallen to fewer than ten by Monday. Iranian drone and missile attacks have also declined sharply from their March 1 peak, and Iran appears not to have launched attacks on ships since 20 March 2026. Even so, the broader operating environment remains highly unstable. The partial return of AIS visibility, the selective movement of some Chinese-linked ships, and the renewed passage attempts by COSCO-operated tonnage do not yet amount to a stable commercial corridor. They amount only to a narrow, conditional and still deeply uncertain reopening in which political alignment, voyage purpose and operator identity may all determine whether a ship is allowed through or compelled to turn back. 30-March-2026
Anchorage backlogs are deepening across Asia as the war nears its fifth week, with disruption around the Strait of Hormuz now spreading through major shipping centres worldwide. ship movements are being postponed, redirected, or concentrated at substitute ports as operators wait for firmer direction amid sharply conflicting statements from the United States and Iran. The seven-day average number of ships waiting at anchorage in Singapore rose to 30.3 by March 25, compared with 20 before February 28, while Busan became one of the ports suffering the greatest impact, with the average increasing to 12.9 from 5.4 over the same period. In the offshore segment, 1,440 OSVs, 432 OCVs, and 156 jack-up rigs in the Gulf represent 19%, 18%, and 27% of their respective worldwide fleets, underscoring the scale of offshore capacity effectively stranded in a region with no clear timetable for a restart of normal activity. A notable sign of movement has come from COSCO Shipping Bulk returning to the region, with the 18,982 TEU MV CSCL Arctic Ocean making an outbound transit through the Strait of Hormuz on March 27, becoming the first containership not linked to Iran to depart the Persian Gulf (PG) since the conflict began on February 28. COSCO Shipping Bulk carries particular weight in this context because it ranks among the world’s largest dry bulk shipping platforms, operating on a scale that gives it major influence in global commodity transportation. With a fleet of more than 400 bulk carriers and close to 40 million dwt, COSCO Shipping Bulk holds a dominant position in international dry bulk trades, and that scale gives its regional movements added importance at a moment when the market is watching closely for signs of returning confidence. The significance of COSCO Shipping Bulk extends well beyond fleet size. As part of the broader COSCO SHIPPING system, COSCO Shipping Bulk is tied to a powerful state-backed maritime network with extensive exposure to commodity flows, container logistics, terminals, and integrated transport chains. This means COSCO Shipping Bulk is not merely another operator testing market conditions, but part of a much larger shipping framework whose decisions can shape sentiment across multiple sectors. The renewed regional activity linked to COSCO Shipping Bulk is therefore being viewed as more than a routine operational development. It is being seen as a signal that selected Chinese-linked traffic may be cautiously resuming even while overall transits remain muted and conditions for many other operators continue to be highly uncertain. For COSCO Shipping Bulk, the present situation also highlights the strategic advantage of scale, fleet breadth, and organisational reach. A business of COSCO Shipping Bulk’s size has a greater ability to redirect attention between trades, manage regional exposure, and respond to shifting operational risks than many smaller competitors. That does not eliminate the geopolitical danger surrounding the Strait of Hormuz, but it does give COSCO Shipping Bulk a stronger platform from which to handle disrupted cargo flows, extended waiting times, revised port rotations, and growing bunker concerns. In a market increasingly shaped by congestion, uncertainty, and political risk, COSCO Shipping Bulk stands out not only because of its vast scale, but also because its actions are being interpreted as a broader gauge of market confidence in Asian and Middle Eastern shipping lanes. 27-March-2026
Chinese state-backed dry bulk giant COSCO Shipping Bulk has joined forces with BIMCO (Baltic and International Maritime Council) to accelerate the spread of Electronic Bills of Lading (B/L) throughout dry bulk shipping trades, emphasizing a wider movement toward quicker, more connected, and more digitally driven trade documentation. The initiative aims to expand the volume of cargoes processed through electronic systems and lessen reliance on slower paper-based methods, with blockchain technology identified as a key mechanism supporting that shift. The campaign carries extra importance because COSCO Shipping Bulk is not a minor presence in the dry bulk market, but one of the world’s biggest specialist bulk shipping operators, with fleet scale large enough for its decisions to influence far more than its own cargo activity. That means the drive by COSCO Shipping Bulk toward electronic documentation is significant not only for its own operations, but also for the broader speed and direction of digital transformation across the dry bulk shipping sector. The partnership with BIMCO (Baltic and International Maritime Council) is equally meaningful because BIMCO (Baltic and International Maritime Council) has devoted years to promoting standardization and broader acceptance of electronic documentation in bulk shipping. Viewed in that context, the COSCO Shipping Bulk initiative looks less like an isolated undertaking and more like a major endorsement of a wider industry shift toward standardized digital trade execution. For COSCO Shipping Bulk, the move aligns naturally with a broader strategic direction that places increasing focus on digital trade systems, operating scale, and end-to-end transport efficiency. COSCO Shipping Bulk has already been linked with electronic bills of lading and other digital trade developments within the wider COSCO SHIPPING framework, so the latest cooperation with BIMCO (Baltic and International Maritime Council) further reinforces the image of COSCO Shipping Bulk as a state-supported dry bulk powerhouse seeking not only cargo scale, but also stronger influence over the way documentation, execution, and data flows develop across global bulk shipping. 20-March-2026
Traders are continuing to seek employment for newcastlemax bulk carrier newbuildings from state-owned Chinese shipowner and operator Bohai Ocean Shipping, emphasizing the enduring commercial attraction of large modern ore carriers under construction in China, despite the fact that Western trading houses still represent only a minor presence in this area of the chartering market. State-owned Chinese shipowner and operator Bohai Ocean Shipping has built up a substantial orderbook of bulk carriers and other ships for delivery in the coming years, and yet another trading house has now stepped forward to charter additional newcastlemax bulk carrier newbuildings upon delivery, strengthening the expectation that Chinese-linked charterers and commodity groups will continue to absorb most of the incoming tonnage. Nevertheless, there is still only limited clarity over who will eventually charter the newcastlemax bulk carriers in state-owned COSCO Shipping Bulk’s large orderbook, although prevailing market opinion continues to indicate that most of those ships are likely to be employed by Chinese charterers. COSCO Shipping Bulk remains one of the leading pillars of China’s dry bulk shipping industry and has been expanding through a series of major newbuilding campaigns, including large bulk carrier fleet growth plans as well as investment in methanol-ready and ammonia-ready newcastlemax bulk carriers, demonstrating that COSCO Shipping Bulk is not merely enlarging its fleet but also tying fleet renewal to longer-term fuel-transition and decarbonization ambitions. COSCO Shipping Bulk has also moved toward more specialized large bulk carrier concepts, including container-capable newcastlemax bulk carrier newbuildings, showing that state-owned COSCO Shipping Bulk is attempting to introduce greater commercial adaptability into future fleet deployment rather than relying exclusively on conventional dry bulk trading patterns. The broader strategic importance of COSCO Shipping Bulk is further reflected in its role in supporting major industrial cargo flows, with lower-emission transport initiatives and dual-fuel newcastlemax bulk carrier developments becoming an increasingly visible part of its long-term direction. In this context, the restricted transparency surrounding charter coverage for parts of the COSCO Shipping Bulk orderbook does not necessarily indicate any shortage of demand, but instead reflects the reality that employment for Chinese-ordered newcastlemax bulk carriers is often determined by state-backed cargo movements, domestic trading links, leasing frameworks, and long-term industrial relationships that are not always disclosed at an early stage. As a result, COSCO Shipping Bulk is emerging not only as a major fleet builder by scale, but also as a growing force in shaping how the next generation of Chinese-controlled newcastlemax bulk carrier capacity will be financed, fuelled, and commercially employed across the international dry bulk market. 26-February-2026
US authorities have confiscated $70,000 in undeclared cash from COSCO Shipping Bulk owned and managed supramax bulk carrier MV Sheng Ning Hai after the Ship Master failed to declare the currency during the Baltimore call. Customs & Border Protection (CBP) said the cash was removed from the 2014-built supramax bulk carrier 56K DWT MV Sheng Ning Hai at the port of Baltimore, Maryland, after an inspection led officers to the onboard currency. The supramax bulk carrier MV Sheng Ning Hai is controlled by state-owned COSCO Shipping Bulk, the dry bulk arm of China COSCO Shipping that operates a large global fleet across the main bulk carrier size groups and trades widely in iron ore, coal, grain and minor bulk cargoes. COSCO Shipping Bulk’s scale means frequent port calls across multiple jurisdictions, where compliance requirements on declarations, documentation and onboard controls are tightly enforced and lapses can trigger administrative action even when the underlying voyage and cargo operations are otherwise routine. 5-February-2026
Chinese state-owned shipping heavyweight COSCO Shipping Bulk is pushing cargo optionality further than most dry bulk operators by commissioning container-capable newcastlemax bulk carriers, a move that deliberately narrows the historical divide between bulk trades and liner-style box logistics. The decision signals that COSCO Shipping Bulk is treating flexibility as a competitive weapon, aiming to create ships that can pivot between cargo categories when market dislocations, port constraints, or charterer requirements suddenly change. Alongside the bulk-side initiative, COSCO Shipping Bulk has also disclosed a wide-ranging containership ordering programme, lining up 18 newbuildings valued at about $2.7 billion, reinforcing how COSCO Shipping Bulk is expanding across multiple segments while refreshing its fleet profile with new propulsion pathways. At the heart of the dry bulk order is a contract awarded to CSSC Qingdao Beihai Shipbuilding for three 210,000 DWT container-capable newcastlemax bulk carriers. The ships are specified with methanol- and ammonia-ready design features and are engineered to carry containers in addition to bulk and general cargo, effectively transforming a traditionally single-purpose newcastlemax bulk carrier concept into a multi-role platform. For COSCO Shipping Bulk, this creates a fleet asset that can remain commercially relevant across a wider set of cargo cycles, rather than being dependent solely on classic capesize/newcastlemax bulk carrier employment patterns. The container-capable newcastlemax bulk carriers were designed by the Shanghai Merchant Ship Design and Research Institute (SDARI) and will be classed by China Classification Society (CCS). With dimensions close to 300 m in length and about 50 m in beam, the ships preserve full newcastlemax bulk carrier scale while incorporating container intake into a segment historically optimized for iron ore, coal, and other bulk commodities. By keeping the core geometry of a newcastlemax bulk carrier while extending cargo capability, the specification highlights COSCO Shipping Bulk’s preference for evolving established ship types rather than abandoning them for entirely new concepts.The contract signing brings together COSCO Shipping Bulk, CSSC Beihai Shipbuilding, CSSC Trading, and Zheshang Financial Leasing, reflecting a structured execution model that matches the way large Chinese state-linked maritime programmes are often assembled. The combination of shipyard, trading arm, and leasing partner points to a financial and industrial framework designed to support scale, secure delivery slots, and maintain momentum on fleet renewal. It also positions COSCO Shipping Bulk to deploy significant capital efficiently while maintaining optionality across financing structures. The new design is described as a step-change for the 210,000 DWT container-capable newcastlemax bulk carrier platform, a product line long associated with CSSC Qingdao Beihai Shipbuilding. CSSC Qingdao Beihai Shipbuilding has built a dominant position in newcastlemax bulk carrier construction globally and continues to lead in orders for the ship type. CSSC Qingdao Beihai Shipbuilding recently booked additional contracts from Seacon Shipping Group, reinforcing CSSC Qingdao Beihai Shipbuilding’s continuing strength in the segment and explaining why COSCO Shipping Bulk is selecting CSSC Qingdao Beihai Shipbuilding for a strategically important specification. For COSCO Shipping Bulk, the newbuildings fit into a broader modernization agenda that targets both scale and operational relevance. COSCO Shipping Bulk has been linked as end operator to four 210,000 DWT container-capable newcastlemax bulk carrier newbuildings at Dalian Shipbuilding Industry Co, a move described as COSCO Shipping Bulk’s second newcastlemax ordering wave of 2025. Earlier in the year, COSCO Shipping Bulk approved orders for ten similar units at COSCO Shipping Heavy Industry Zhoushan and CSSC Qingdao Beihai Shipbuilding, with deliveries scheduled for Q4 2028. Together, these commitments indicate that COSCO Shipping Bulk is not experimenting with the concept at the margins, but is scaling it into a meaningful pipeline that can reshape how COSCO Shipping Bulk positions its large bulk fleet over time. The logic for container intake on bulk tonnage has grown clearer since the pandemic-era dislocations, when cargoes moved across ship categories in ways that would previously have been considered operationally awkward or commercially unconventional. During that period, containers were loaded onto bulk carriers, logs were shipped on newcastlemax bulk carriers, and even cars were carried on pulp carriers. In 2022, Star Bulk became one of the earliest capesize bulk carrier owners to secure class approval to carry containers, while Swire Bulk and other operators actively shifted boxes on dry bulk ships when liner capacity was scarce and charter markets were stretched. Those years offered a practical lesson: when freight markets break normal patterns, the ability to adapt stowage and take alternative cargo can create outsized revenue opportunities. COSCO Shipping Bulk now appears to be formalizing that lesson into ship design rather than relying on ad-hoc workarounds. COSCO Shipping Bulk’s willingness to blur segment boundaries also aligns with a broader history within COSCO, often described as the world’s largest shipowner, of applying engineering solutions to widen ship employment. In 2022, COSCO Shipping Bulk began moving cars using a pulp carrier after developing a foldable car-frame arrangement that allowed vehicles to be stacked and secured inside a ship not traditionally associated with automobile transport. That experience illustrates the practical mindset behind COSCO Shipping Bulk’s approach: a ship is most valuable when it can keep earning through disruptions, even if that requires moving beyond conventional cargo assumptions. In parallel, COSCO Shipping Bulk has confirmed a major container ship ordering surge, lining up 18 newbuildings worth around $2.7 billion as COSCO Shipping Bulk expands capacity while diversifying propulsion choices. Regulatory filings show COSCO Shipping Bulk has ordered twelve 18,000 TEU LNG dual-fuel container ships at CSSC’s Jiangnan Shipyard, alongside six 3,000 TEU conventionally powered container ships at COSCO Zhoushan Shipyard. Taken together, the orders demonstrate how COSCO Shipping Bulk is investing across both ends of the container spectrum: ultra-large container ships designed for major long-haul trades and smaller container ships that can be suited to regional networks and feeder-style deployment. The twelve 18,000 TEU LNG dual-fuel container ships represent COSCO Shipping Bulk’s first step into LNG as an alternative marine fuel, marking a notable shift after COSCO Shipping Bulk’s earlier emphasis on methanol alongside conventional propulsion. The ships are based on Jiangnan Shipyard’s in-house 18,000 TEU LNG design, a design family with market traction. CSSC’s Jiangnan Shipyard already has a dozen ships of the same design on order from Ocean Alliance partner CMA CGM, with deliveries planned for 2028 and 2029. CSSC’s Jiangnan Shipyard also has an established delivery history with COSCO Shipping Bulk, having previously delivered 5,100 TEU, 4,700 TEU, and 21,000 TEU container ships to COSCO Shipping Bulk, reinforcing an ongoing yard-operator relationship that supports fleet standardization and operational familiarity. Alongside the LNG programme, COSCO Shipping Bulk has also signed for six 3,000 TEU container ships at COSCO Zhoushan Shipyard, with each container ship priced at about $47 million and deliveries expected around Q4 2028. The combination of conventional propulsion for the smaller ships and LNG dual-fuel capability for the larger ships suggests a pragmatic pathway in which COSCO Shipping Bulk balances fuel optionality, capital efficiency, and route-specific requirements rather than forcing a single propulsion approach across every ship class. Overall, the newbuild strategy highlights COSCO Shipping Bulk’s twin priorities: expanding large-ship capability while building in the flexibility to respond to sudden swings in cargo flows. By ordering container-capable newcastlemax bulk carriers while also committing to a broad containership programme, COSCO Shipping Bulk is signaling that scale alone is no longer enough; the ability to pivot cargo, adapt propulsion, and preserve earnings power across unstable freight cycles is becoming central to how COSCO Shipping Bulk intends to compete. 14-January-2026
Chinese state-owned shipping heavyweight COSCO is stepping up COSCO’s northern Europe logistics strategy by moving to buy a majority position in Hamburg-based stevedore and logistics operator Zippel, with COSCO proposing to take an 80% stake as COSCO looks to strengthen direct control over cargo handling and improve coordination of sea-to-inland transport linked to the Port of Hamburg. Zippel is known in Hamburg for multipurpose cargo handling and barge-related services that plug into the port’s wider ecosystem, and a majority investment would give COSCO stronger local execution capability, more flexibility in combined sea–inland flows, and potentially tighter scheduling and operational resilience when congestion or disruption shifts how cargo must be routed. The proposed deal also fits COSCO’s broader pattern of building influence through targeted infrastructure and logistics positions at key gateways rather than relying only on ocean services, aiming to reduce friction, improve cargo visibility, and connect deep-sea transport with inland distribution more seamlessly. COSCO already has a substantial Hamburg footprint, including a terminal position through a partnership linked to HHLA and a presence across Hamburg’s port cluster, alongside additional involvement in other terminal and service-related activities that support COSCO’s regional network, and COSCO’s intra-European subsidiary Diamond Line is headquartered in Hamburg, reinforcing how central Hamburg is to COSCO’s European operating map. Alongside this port-and-logistics expansion, COSCO remains a global heavyweight across multiple shipping segments, and Cosco Shipping Bulk represents a core pillar in dry bulk with a very large bulk carrier platform and broad coverage across major commodities and trade lanes, giving COSCO the ability to combine long-haul transport strength with downstream logistics touchpoints when building integrated supply solutions. Put together, COSCO’s push to secure a controlling stake in Zippel and COSCO’s scale in dry bulk via Cosco Shipping Bulk show a consistent approach: COSCO is trying to reinforce strategic corridors by aligning ships, terminals, and inland logistics so COSCO can offer more controlled, flexible cargo movement across both the maritime leg and the hinterland leg. 9-January-2026
The Chinese state-owned shipping heavyweight Cosco Shipping Specialised Carriers — the dry bulk division of China COSCO Shipping Corporation Limited and a globally influential dry bulk ship operator — has moved to expand its project-cargo capability by booking four heavy-lift MPP (Multi Purpose) ships for about $213 million, with the contracts placed at Chengxi Shipyard as wind power-related demand continues to underpin forward cargo visibility. The order covers four 40,000 DWT MPP (Multi Purpose) ships equipped with heavy-lift cranes, a specification designed to handle oversized and high-value components and to support complex logistics chains where lifting capacity and deck strength matter as much as speed and fuel efficiency. By securing additional heavy-lift MPP (Multi Purpose) ship capacity, Cosco Shipping Specialised Carriers is positioning for sustained volumes linked to wind power construction cycles, including tower sections, blades, nacelles and supporting project equipment that often require specialist loading plans, careful stowage and strict schedule coordination. Within the wider China COSCO Shipping Corporation Limited platform, Cosco Shipping Bulk plays a central role in mainstream dry bulk transportation, operating at scale across core commodity trades and serving as a key chartering and operations hub for large-volume cargo flows that keep steelmaking, power generation and food supply chains moving. Cosco Shipping Bulk’s reach across major bulk carrier segments allows Cosco Shipping Bulk to align ship size and routing with cargo type, port limitations and regional demand patterns, while its commercial activity typically spans a blend of spot exposure, period coverage and longer-term arrangements that aim to balance earnings opportunity with downside protection through the cycle. With freight markets prone to sharp shifts in rates and tonnage availability, Cosco Shipping Bulk’s scale and market presence help Cosco Shipping Bulk pursue cargo diversification, optimize triangulation, and improve fleet utilization, particularly on long-haul routes where ballast management and turnaround planning can make a material difference to performance. The combination of specialised heavy-lift MPP (Multi Purpose) ship investment by Cosco Shipping Specialised Carriers and the broad dry bulk footprint of Cosco Shipping Bulk underlines how China COSCO Shipping Corporation Limited can pursue both technically demanding project cargoes and high-throughput commodity shipments in parallel, using different ship types and trading strategies to capture demand from the energy transition while still supporting the traditional bulk trades that anchor global industrial activity. 2-January-2026
The Chinese state-owned shipping powerhouse Cosco Shipping Bulk — the dry bulk division of China COSCO Shipping Corporation Limited and one of the world’s most strategically significant dry bulk ship operators — has surfaced as the driving force behind the latest newcastlemax bulk carrier orders placed at Dalian Shipbuilding Industry Co (DSIC).The Chinese state-owned shipowner and operator Cosco Shipping Bulk is pressing forward with an expansive growth trajectory for its newcastlemax bulk carrier fleet, positioning itself as the entity behind a newly concluded set of four 210,000 DWT newcastlemax bulk carrier newbuildings secured at Dalian Shipbuilding Industry Co (DSIC).Dalian Shipbuilding Industry Co (DSIC) recently revealed that it had landed contracts for 30 ships in total, including four newcastlemax bulk carriers, although it withheld the customer name. S&P (Sale and Purchase) shipbrokers have subsequently suggested that the orders were executed through Chinese leasing structures and that the four newcastlemax bulk carriers will enter long-term charter service for China COSCO Shipping Corporation Limited once delivered. This latest order represents the second newcastlemax bulk carrier newbuilding drive by Cosco Shipping Bulk in 2025. In July 2025, the board of COSCO Shipping Corporation Limited approved the construction of 10 additional 210,000 DWT newcastlemax bulk carrier newbuildings at COSCO Shipping Heavy Industry Zhoushan and CSSC Qingdao Beihai Shipbuilding. These new units — collectively valued near $744 million — are expected to join the Cosco Shipping Bulk-operated fleet by Q4 2028.Chinese shipowners continue to dominate newcastlemax bulk carrier ordering activity, reinforcing their influence by securing both large-scale newbuildings and a broad range of modern secondhand bulk carriers. Cosco Shipping Bulk, however, stands out as one of the most structurally important actors in this consolidation, driving a comprehensive renewal, expansion, and decarbonisation agenda that aligns closely with national policy targets, China’s strategic commodity-import requirements, and the long-term roadmap of China COSCO Shipping Corporation Limited. Cosco Shipping Bulk itself holds a unique footprint in the maritime world. As the dedicated dry bulk shipping division of China COSCO Shipping Corporation Limited, it manages one of the largest dry bulk fleets globally, covering every major segment from handysize to newcastlemax bulk carriers. The fleet includes modern, fuel-efficient, and increasingly environmentally aligned tonnage designed to support China’s massive import requirements for coal, grain, iron ore, bauxite, fertilisers, and other raw materials. The scale of Cosco Shipping Bulk allows it to act not only as a commercial operator but also as a strategic logistics arm of the Chinese state, ensuring security of commodity supply chains and supporting China’s global Belt and Road maritime initiatives. Over the past decade, Cosco Shipping Bulk has significantly expanded its capabilities across global industrial shipping corridors, building strong relationships with major mining groups, agricultural giants, energy suppliers, and commodity trading houses. It is a major operator on long-haul Brazil–China iron ore routes, Australia–China trades, and growing West Africa–China flows. The organisation has also become a critical component of China’s push into alternative fuels, investing in fleets that support methanol and LNG propulsion and positioning itself to transition toward green ammonia and future low-carbon solutions. In parallel with its commercial ambitions, Cosco Shipping Bulk has strengthened its presence through partnerships with leading Chinese shipyards — including Dalian Shipbuilding Industry Co (DSIC), COSCO Shipping Heavy Industry, and sister yards under China State Shipbuilding Corporation (CSSC). These long-term collaborations have given Cosco Shipping Bulk priority access to berths, design innovation, energy-saving technologies, and next-generation dual-fuel solutions. With this latest round of newcastlemax bulk carrier ordering, Cosco Shipping Bulk further solidifies its status as one of the most influential investors in China’s large bulk carrier segment. The four newcastlemax bulk carriers at Dalian Shipbuilding Industry Co (DSIC), combined with the 10-unit July 2025 programme, create a 14-ship pipeline scheduled to join the Cosco Shipping Bulk-operated fleet over the next four years. Each newcastlemax bulk carrier will be backed by long-term internal employment within the COSCO Shipping group, locking in stable cargo flows, maximising fleet utilisation, and aligning with Beijing’s long-term strategy of tightening control over its commodity transport chains. As a result, Cosco Shipping Bulk enters 2025 and beyond as a far more powerful, more technologically advanced, and more strategically central entity — a dry bulk ship operator with unparalleled influence across Asia–Pacific freight markets and a decisive role in reshaping the future of large bulk carrier deployment worldwide. 17-November-2025
HSBC has highlighted that the one-year postponement of reciprocal port fees between the United States and China serves as a timely and direct relief for Chinese maritime giant Cosco Shipping Holdings, even as analysts caution that the recent upswing in freight rates may not prove durable. The analysis, led by Parash Jain, global head of transport & logistics research at HSBC, emphasized that the decision to delay the enforcement of reciprocal tariffs offers welcome respite to Cosco Shipping Holdings and its Hong Kong-based subsidiary Orient Overseas (International) Ltd (OOIL), the two liner operators most affected by the earlier US measures among HSBC’s coverage universe. According to Jain, the temporary pause provides short-term operational and financial relief for Cosco Shipping Holdings, which oversees extensive container and bulk shipping operations through its subsidiaries, including Cosco Shipping Lines, Orient Overseas Container Line, and Cosco Shipping Bulk. Cosco Shipping Holdings—headquartered in Shanghai and part of the state-backed China Cosco Shipping Corporation Limited—is among the largest integrated shipping and logistics groups in the world, with interests spanning container shipping, dry bulk transportation, terminal operations, and logistics services. One of its most prominent divisions, Cosco Shipping Bulk, plays a central role in the group’s global operations as the world’s largest dry bulk shipowner and operator, managing a diverse fleet that covers all major cargo segments. Cosco Shipping Bulk operates a fleet exceeding 400 ships, including capesize, panamax, kamsarmax, ultramax, supramax, and handysize bulk carriers, with a combined deadweight capacity surpassing 40 million DWT. Its trading network spans over 1,500 ports across 100 countries and regions, handling a wide variety of commodities such as iron ore, coal, grain, steel, fertilizers, and bauxite. The division’s deep integration with China’s raw material imports and industrial supply chains makes it a vital component of both national and international trade flows. In recent years, Cosco Shipping Bulk has modernized its fleet by acquiring eco-efficient ships equipped with advanced fuel-saving technologies and optimized hull designs, aligning its long-term operations with global decarbonization goals set by the International Maritime Organization. Beyond its core dry bulk activities, Cosco Shipping Bulk has expanded its presence in global logistics by offering end-to-end transportation services that link cargo owners with inland terminals, warehouses, and distribution centers. The HSBC report also noted that while the port fee delay would provide near-term stability, it would not fully shield Cosco Shipping Holdings or its divisions from the ongoing volatility of global trade conditions. Analysts underscored that Cosco Shipping Bulk, as part of the larger Cosco Shipping ecosystem, continues to demonstrate operational resilience amid fluctuating demand and freight market uncertainty. Meanwhile, Orient Overseas (International) Ltd (OOIL), through its subsidiary Orient Overseas Container Line, remains a key strategic pillar of Cosco Shipping Holdings’ global liner network, connecting major economies through an extensive service portfolio. HSBC concluded that although the suspension of reciprocal port fees represents an encouraging short-term development, sustained recovery across both container and bulk markets will depend on global economic performance, cargo volume recovery, and effective capacity management. Nonetheless, Cosco Shipping Bulk’s expansive fleet, global reach, and alignment with China’s trade priorities ensure that it remains a dominant force within the international dry bulk sector and a critical contributor to Cosco Shipping Holdings’ overall growth and global competitiveness. 5-November-2025
COSCO has announced a massive $1.75 billion shipbuilding initiative encompassing 29 ships, as the state-backed maritime powerhouse continues to pursue aggressive fleet renewal and expansion across diverse shipping sectors. The wide-ranging investment consists of 23 kamsarmax bulk carriers and six very large crude carriers (VLCCs), all of which are to be constructed at leading Chinese shipyards with deliveries scheduled between 2027 and 2028. According to filings by COSCO Shipping Development, which serves as the financial and leasing arm of China’s state-controlled shipping conglomerate, COSCO Shipping Heavy Industry (Dalian) will oversee the construction of the 87,000 DWT kamsarmax bulk carriers under contracts worth about $1.03 billion. Meanwhile, Dalian Shipbuilding Industry Corp (DSIC) will take charge of building six 307,000 DWT VLCCs, valued collectively at $715 million. The kamsarmax bulk carriers will be chartered for 20 years on bareboat agreements with COSCO Shipping Bulk, while the methanol- and LNG-ready VLCCs will be deployed on long-term leases with COSCO Shipping Energy Transportation. Deliveries of the newbuilds will begin in April 2027, continuing through Q4 2028. COSCO stated that the newbuilding program reflects its broader decarbonization and modernization strategy, which emphasizes energy efficiency, dual-fuel propulsion systems, and long-term internal charter structures to maximize fleet utilization and lower emissions across its global operations. COSCO Shipping Bulk, one of the world’s largest and most influential bulk carrier operators, plays a central role in the group’s dry bulk shipping strategy. Headquartered in Guangzhou, COSCO Shipping Bulk operates and manages a diversified fleet exceeding 400 ships, covering a wide range of tonnage segments including handysize, supramax, panamax, kamsarmax, and capesize bulk carriers. The company is a key player in the global transportation of major commodities such as coal, iron ore, grain, and bauxite, with extensive service routes linking Asia, South America, Australia, and Europe. COSCO Shipping Bulk’s chartering structure integrates both owned and controlled ships under long-term contracts, allowing the company to maintain stability in freight operations while flexibly responding to market volatility. In recent years, COSCO Shipping Bulk has also focused on environmental innovation, introducing dual-fuel capable newbuilds and retrofitting part of its existing fleet to comply with the International Maritime Organization’s decarbonization framework. The firm’s role within COSCO’s broader ecosystem ensures synergy between shipping, logistics, and energy transportation divisions, providing an integrated logistics chain that reinforces China’s global maritime influence. The latest shipbuilding investment follows several other major orders placed earlier this year, including ten newcastlemax bulk carriers and four asphalt carriers currently under construction at CSSC Qingdao Beihai, COSCO Zhoushan, and CSSC Huangpu Wenchong. Those ships are also being deployed under long-term charters across COSCO’s subsidiaries. This latest round of orders further cements COSCO’s fleet expansion blueprint announced last year, which spans various ship types and tonnage classes. It includes multiple ongoing newbuilding programs for newcastlemax and kamsarmax bulk carriers, as well as an ambitious series of up to 30 multipurpose ships. Through COSCO Shipping Bulk’s growing prominence and the parent group’s coordinated investment in cutting-edge ship designs, COSCO is solidifying its position as one of the most dominant and forward-looking players in global maritime transport. 1-November-2025
The Chinese state-owned shipping powerhouse Cosco Shipping Bulk—the dry bulk division of China COSCO Shipping Corporation Limited and one of the largest and most influential dry bulk ship operators in the world—has signed a landmark deal for the construction of 15 multipurpose grain transport ships, setting a new record as the largest single order of its kind ever placed in the grain shipping segment. This milestone order was announced on World Food Day, symbolizing China’s dedication to strengthening national food security through the modernization of its grain logistics and transportation infrastructure. The newbuilding agreement between China State Shipbuilding Corporation and Cosco Shipping Bulk is designed to support the development of an advanced, sustainable, and cost-efficient maritime grain transportation system that integrates environmental responsibility with operational excellence. Headquartered in Guangzhou, Cosco Shipping Bulk operates as a core subsidiary of China COSCO Shipping Corporation Limited, one of the world’s most comprehensive maritime conglomerates. Cosco Shipping Bulk manages a vast and diversified fleet of over 400 ships across capesize, panamax, ultramax, supramax, and handysize categories, with a combined deadweight exceeding 40 million DWT. The shipping giant serves major trade routes connecting Asia, the Americas, Africa, Europe, and Oceania, providing vital logistics services for the transportation of iron ore, coal, grain, fertilizers, and other essential commodities that underpin global trade and industrial production. Cosco Shipping Bulk has consistently been at the forefront of digitalization, environmental innovation, and operational efficiency in the dry bulk sector. Through its “Smart Shipping” initiative, the shipowner and operator has invested heavily in advanced data analytics, intelligent fleet management systems, and fuel optimization technologies to enhance safety, reduce emissions, and improve voyage performance across its global operations. The group’s expanding focus on sustainability aligns with China COSCO Shipping Corporation Limited’s broader green transition strategy, which aims to integrate carbon-reduction measures and next-generation fuel solutions throughout its global fleet. The newly ordered multipurpose grain transport ships are the product of extensive research and development efforts, specifically engineered to meet the complex logistical requirements of grain carriage. These ships are designed with features that improve cargo handling efficiency, reduce fuel consumption, and ensure the safe and stable transport of agricultural commodities under varying climatic and sea conditions. Cosco Shipping Bulk stated that the next-generation multipurpose grain transport ships will not only optimize the flow of China’s grain imports and domestic distribution but will also contribute to the global objective of developing cleaner and more resilient maritime logistics systems. As a crucial link between agricultural producers and consumers, the operational reliability and sustainability of these ships will enhance the efficiency of the national grain supply chain and play a pivotal role in securing long-term food stability. Under the guidance of China COSCO Shipping Corporation Limited, Cosco Shipping Bulk continues to evolve as a global maritime leader, blending state-backed resources with commercial agility. The Hong Kong-listed parent group, with operations spanning container shipping, logistics, terminals, and finance, has positioned Cosco Shipping Bulk as its flagship entity for bulk logistics and raw material transport. The group’s global footprint includes partnerships with major industrial clients, port operators, and logistics providers, making it one of the most integrated shipping networks in the world. The record-setting order of 15 multipurpose grain transport ships reinforces Cosco Shipping Bulk’s strategic vision to expand its leadership in the dry bulk and agricultural logistics sectors while advancing technological innovation, environmental protection, and national economic resilience. Through this initiative, Cosco Shipping Bulk not only underscores its commitment to China’s grain security strategy but also strengthens its role as a key player driving the modernization of global maritime transport in an era of rapid decarbonization and digital transformation. 24-October-2025
The Chinese state-owned shipping giant Cosco Shipping Bulk, the dry bulk division of China COSCO Shipping Corporation Limited and one of the world’s largest dry bulk operators with a fleet spanning capesize, panamax, ultramax, and handysize segments, is actively seeking buyers for two of its unwanted logger bulk carriers as part of a broader strategy to streamline operations and concentrate on higher-capacity assets, with the shipowner and operator currently managing and operating a fleet of more than 400 dry bulk ships totaling over 42 million DWT; Cosco Shipping Bulk (Cosbulk), based in Guangzhou and known for its central role in China’s global dry bulk trade logistics, is inviting offers through the Guangzhou Shipping Exchange (GSE) for the 2010-built 32K DWT handysize logger bulk carriers MV Cosco Wuyishan and MV Cosco Jinggangshan, which no longer align with its strategic focus on large-scale tonnage and higher-efficiency shipping segments; Cosco Shipping Bulk (Cosbulk), which integrates shipping, logistics, and terminal services under China COSCO Shipping Corporation Limited’s vast maritime network, continues to adjust its fleet composition in line with market dynamics, regulatory developments, and evolving customer demands, positioning itself as a key facilitator of China’s commodity import and export flows across global trade lanes while prioritizing modern, fuel-efficient ships capable of meeting international environmental and performance standards. 6-August-2025
The Chinese state-owned shipping titan Cosco Shipping Bulk, the dry bulk division of China COSCO Shipping Corporation Limited and one of the world’s largest dry bulk operators with a fleet spanning capesize, panamax, ultramax, and handysize segments, has initiated a 14-ship newbuilding campaign at domestic shipyards as part of its aggressive long-term fleet renewal and expansion strategy aimed at strengthening its leadership position in global dry bulk logistics; the newbuilding initiative is being executed through COSCO Shipping Development, the group’s financing and leasing arm, which has placed orders for 10 newcastlemax bulk carrier newbuildings, including 4 at CSSC Qingdao Beihai Shipbuilding at an estimated $73.5m per unit excluding tax and 6 additional newcastlemax bulk carrier newbuildings at COSCO Shipping Heavy Industry’s Zhoushan shipyard, all of which are scheduled for delivery between Q4 2027 and Q1 2028 and will be chartered for approximately 20 years to Cosco Shipping Bulk, which currently manages and operates a fleet exceeding 400 dry bulk ships with a combined capacity of more than 42 million DWT, providing global transportation solutions for major commodities such as coal, grain, iron ore, and bauxite; in parallel, COSCO Shipping Development has commissioned four 9,000 dwt asphalt carriers from CSSC Huangpu Wenchong at around \$28m each excluding tax, which will be chartered under a 15-year period to COSCO Shipping Specialized Carriers, a rapidly growing unit within the COSCO group responsible for the transport of high-value industrial cargo including infrastructure equipment, wind turbines, and heavy machinery, and whose current diversified fleet exceeds 140 ships with plans to reach over 10 million DWT by 2026; this latest round of investment follows Cosco Shipping Bulk’s previously announced multipurpose newbuilding program for up to 30 ships and reflects its strategic vision to modernize its fleet, enhance environmental performance, and align with China’s Belt and Road Initiative by supporting global industrial supply chains; further diversifying its portfolio, COSCO Shipping Development is also pursuing a \$360m sale and leaseback deal for a 271,000 cubic meter QC-Max LNG carrier under a 20-year lease term, highlighting the group’s continued focus on asset optimization and capital-efficient growth across bulk, energy, and specialized shipping segments. 30-July-2025
BHP has entered into five-year charter agreements with COSCO Shipping Bulk for two ammonia dual-fuelled newcastlemax bulk carriers. The two 210K DWT ammonia dual-fuelled newcastlemax bulk carriers, scheduled for delivery beginning in 2028, will primarily be deployed to transport iron ore from Western Australia to China. BHP vice president of maritime and supply chain excellence, Emma Roberts, stated that this investment is aimed at accelerating the development of alternative fuel technology, stimulating the demand for ammonia as a marine fuel, and contributing to the reduction of greenhouse gas emissions across the maritime supply chain. She emphasized that as one of the world’s largest dry bulk charterers, BHP sees this initiative as a critical step toward establishing ammonia as a viable marine fuel in a globally essential sector where emissions are traditionally difficult to abate. COSCO Shipping Bulk vice president, Ji Lin, highlighted ammonia’s potential as a zero-carbon marine fuel and noted that these new bulk carriers will represent a major leap forward in both technological innovation and environmental stewardship—not only for COSCO Shipping Bulk and BHP but for the dry bulk sector as a whole. COSCO Shipping Bulk, a subsidiary of China COSCO Shipping Corporation Limited, is one of the world’s largest dry bulk shipping operators with a fleet of hundreds of bulk carriers spanning capesize, panamax, supramax, and handysize segments. The company plays a critical role in China’s industrial supply chain and global trade routes, actively engaging in the adoption of low-carbon technologies and long-term charter partnerships to promote sustainable maritime practices. Ji Lin reaffirmed the deal as a strong endorsement of global climate goals and a direct contribution to China’s dual-carbon strategy aimed at reaching peak carbon emissions before 2030 and achieving carbon neutrality by 2060. 2-July-2025
COSCO Shipping Specialized Carriers has entered into an agreement with Bank of Communications Financial Leasing (BoComm Leasing) to acquire 6 multipurpose heavy lift ships. The Shanghai-listed arm of COSCO Shipping Group, which manages a diversified fleet of over 150 ships, has committed to 60K DWT multipurpose heavy lift ships that will be built at CSSC-affiliated Chengxi Shipyard. Under the terms of the deal, COSCO Shipping Specialized Carriers will bareboat charter the 6 multipurpose heavy lift ships for a period of approximately 16 years, with annual payments of about $19.4 million, totaling around $310 million. COSCO Shipping Specialized Carriers has previously engaged in several leasing transactions with Bank of Communications Financial Leasing (BoComm Leasing) and other Chinese lessors to support the expansion of its fleet tailored to specialized shipping requirements, such as heavy lift and pulp carrier operations. In Q1 2025, COSCO Shipping Specialized Carriers outlined its intention to add more than 50 ships, including car carriers, multipurpose ships (MPP), and heavy lift ships by Q4 2025, in response to growing demand for transporting wind power components, port handling equipment, and other specialized cargo. 10-June-2025
The Chinese state-owned shipping titan Cosco Shipping Bulk, the dry bulk division of China COSCO Shipping Corporation Limited and one of the world’s largest operators of dry bulk tonnage with a fleet covering capesize, panamax, ultramax, and handysize segments, through its subsidiary company Refined Success, chartered in one newcastlemax bulk carrier and one post-panamax bulk carrier from Athens-based and Nasdaq-listed shipowner and operator Diana Shipping Inc. (DSX); Cosco Shipping Bulk subsidiary Refined Success chartered in the 2012-built newcastlemax bulk carrier 206K DWT MV Philadelphia until June 2026 at a daily rate of $21,500, with extension options available from 8 August 2026, and is scheduled to take delivery of the newcastlemax bulk carrier MV Philadelphia on 29 May 2025, while the same ship had previously been chartered by CEO Semiramis Paliou-led Athens-based and Nasdaq-listed shipowner and operator Diana Shipping Inc. (DSX) to Nippon Yusen Kaisha (NYK) at a rate of $22,500 per day; additionally, Athens-based and Nasdaq-listed shipowner and operator Diana Shipping Inc. (DSX) chartered out the 2013-built post-panamax bulk carrier 87K DWT MV Phaidra to Singapore-based shipowner and operator SwissMarine Pte Ltd for a daily rate of $9,750 following the conclusion of the post-panamax bulk carrier MV Phaidra’s previous charter with Athens-based ship operator Aquavita International at a rate of $12,000 per day, with the new charter period commencing on 31 May 2025 and running until 1 January 2026, and SwissMarine Pte Ltd retaining options to extend the charter until 8 February 2026, with both charter deals together expected to generate approximately $10 million in gross revenue for Athens-based and Nasdaq-listed shipowner and operator Diana Shipping Inc. (DSX), which currently owns a fleet of 37 bulk carriers and has two methanol dual fuel kamsarmax newbuilds scheduled for delivery in 2027 and 2028, while Cosco Shipping Bulk, as a core business unit of China COSCO Shipping Corporation Limited, maintains an extensive global network with strategic partnerships and operates hundreds of ships, playing a central role in China’s raw materials supply chain and international dry bulk logistics. 28-May-2025
The Chinese state-owned shipping titan Cosco Shipping Bulk, the dry bulk division of COSCO, is expanding its order book with two newcastlemax bulk carrier newbuilds at CSSC Qingdao Beihai Shipbuilding, having booked two 209K DWT newcastlemax bulk carrier newbuilds with no disclosed price and delivery scheduled for Q4 2027; the Shanghai-based shipowner and operator Cosco Shipping Bulk initiated a large-scale newbuilding programme in the dry bulk segment in 2024, commissioning 42 newbuilds across its affiliated COSCO Shipping Heavy Industry and CSSC Chengxi Shipyard, followed by up to eight methanol- and ammonia-ready newcastlemax bulk carrier newbuilds also to be operated by Cosco Shipping Bulk, with deliveries spanning from Q2 2027 through Q4 2028; the latest two newcastlemax bulk carrier newbuilds ordered at CSSC Qingdao Beihai Shipbuilding include options for 10 additional newbuilds, and the Chinese state-owned shipping giant Cosco Shipping Bulk is reportedly considering further newcastlemax bulk carrier orders at a minimum of two other domestic shipyards; Cosco Shipping Bulk is one of the world’s largest dry bulk shipping operators, managing a fleet of over 400 bulk carriers, including capesize, panamax, ultramax, and handysize ships, with a total carrying capacity exceeding 40 million DWT, and plays a critical role in transporting major dry bulk commodities such as iron ore, coal, grain, and bauxite; Cosco Shipping Bulk operates globally with a strategic emphasis on integrating smart shipping technologies and enhancing its environmental sustainability profile through fuel-efficient designs, dual-fuel capabilities, and compliance with IMO decarbonisation targets; Cosco Shipping Bulk is also recognized for its long-term charter agreements with major mining and trading houses and for maintaining a dominant presence in key global trade routes connecting Asia, Australia, Brazil, and West Africa. 12-May-2025
Shipping has spent the weekend reacting to developments from the United States, where softened plans to impose additional charges on China-linked ships making American port calls have sparked strong backlash in China and Hong Kong, while also causing unease among members of the Ocean Alliance, a major consortium in the container shipping sector. The document issued by the US Trade Representative (USTR) has been closely examined by the global shipping community and has drawn criticism for its vague language. The US Trade Representative (USTR) announcement, while detailed, has been criticized for being poorly worded and leaving several key points open to interpretation. Under the new rules, disclosed late last Thursday by the US Trade Representative (USTR), non-Chinese shipowners will be required to pay the greater of two calculated charges: a tonnage-based fee that starts at $18 per net ton on October 14, 2025, and increases to $33 per net ton by April 17, 2028, or a container-based fee that begins at $120 per container discharged on October 14, 2025, and rises to $250 per container by April 17, 2028. In addition, non-US-built ships carrying vehicles will be charged $150 per vehicle. These fees will be applied once per voyage on impacted ships, up to a maximum of six times per year. Temporary exemptions—lasting up to three years—may be granted if the shipowner orders and receives a US-built ship of equal or greater net tonnage. Exemptions also apply to smaller ships, ships operating on domestic routes or in the Caribbean and Great Lakes, and specific specialized ship types. Empty bulk carriers entering US ports to load exports such as wheat and soybeans are also excluded. Container ships with a capacity below 4,000 TEU and voyages under 2,000 nautical miles are exempt as well. Chinese shipowners and operators, however, are expected to face significantly higher charges, starting at $50 per net ton, with an annual increase of $30 per ton over the next three years. According to Clarksons, based on 2024 port call data, only 7% of containerships would fall under the new fee structure, a sharp decline from 83% under the original US Trade Representative (USTR) proposal introduced in February 2025, which was widely criticized during a public hearing in March. Across all shipping categories, only 9% of 2024 port calls would be affected under the revised framework, compared to 43% in the initial plan. The new policy is expected to have minimal impact on exports of US crude oil, refined products, LNG, LPG, chemicals, coal, and grains. Containers may experience limited disruption, though less than initially feared, while car carriers will be more affected as all foreign ships will be subject to a $150 per CEU port fee. The targeted nature of the fees on Chinese ship operators may result in notable shifts within transpacific liner trade routes. China’s COSCO and OOCL, which are part of the Ocean Alliance alongside France’s CMA CGM and Taiwan’s Evergreen, are directly affected. Hede Shipping, a smaller independent Chinese ship operator, is also impacted. According to estimates by Sea-Intelligence, a Danish liner consultancy, these three Chinese companies could face US port charges of up to $10 million when the US Trade Representative (USTR) fees are fully implemented, potentially prompting the Ocean Alliance to restructure by assigning CMA CGM and Evergreen to manage US-bound services while reallocating COSCO and OOCL to Asia-Europe routes. The World Shipping Council (WSC), a prominent shipping industry lobbying group, has criticized the newly introduced charges, particularly those levied on car carriers. The World Shipping Council (WSC) stated that the US Trade Representative (USTR)’s port fee policy is counterproductive, as it would lead to increased consumer prices, weaken American trade competitiveness, and fail to support the revitalization of the US maritime industry. The World Shipping Council (WSC) argued that the tonnage-based structure disproportionately penalizes larger and more efficient ships. Additionally, the organization expressed concerns over the new, previously unannounced fee tied to car equivalent unit (CEU) capacity, warning that it would hinder US economic growth and raise vehicle prices for consumers. The World Shipping Council (WSC) also raised legal concerns, suggesting that the proposed charges may exceed the authority outlined in existing US trade law. The Chinese government, along with Chinese shipbuilding and shipping associations and COSCO, have all denounced US President Donald Trump’s port fee measures. The national shipbuilding association of China urged the global maritime sector to oppose what it called a short-sighted move by the US and to protect a fair and open market environment. The China Shipowners Association described the US measures as highly discriminatory and rejected the accusations made by the US as being based on misinformation and prejudice. COSCO, a major Chinese shipping company, asserted that the new fees disrupt fair competition and undermine the normal order of the global shipping sector. COSCO warned that such actions distort market competition, interfere with the proper functioning of the global maritime industry, and pose risks to the long-term stability, resilience, and security of global supply and industrial chains. The Ministry of Commerce in Beijing pledged to take firm and appropriate actions to defend China’s interests, declaring that the new fees reveal the true nature of unilateralism and protectionism by the US, and represent a clear example of non-market behavior. In Hong Kong, which hosts the world’s fourth-largest shipping register, shipowners are now reconsidering their flagging options. The Hong Kong government stated that, despite the US’s coercive actions, it will continue cooperating with the international maritime community to support free trade and foster the healthy development of the global shipping industry. Shipping companies incorporated in Hong Kong, Shanghai, or elsewhere in China are now compelled to explore alternative strategies. 22-April-2025
The United States is set to implement fees on Chinese-built ships that call at American ports, regardless of who owns them, in a long-anticipated move closely watched by the global shipping industry. A slight relief for non-Chinese shipowners is that the final regulation is less stringent than the originally proposed flat fee of $1.5 million per port call. In contrast, Chinese shipowners may now face significantly higher costs than initially expected, as the US President Donald Trump administration continues its policy of targeting China with economic penalties. Non-Chinese shipowners will incur whichever is higher between two calculated fees: a tonnage-based charge beginning at $18 per Net Ton (NT) on October 14, 2025, increasing to $33 per Net Ton by April 17, 2028, or a container-based charge starting at $120 per container on October 14, 2025, rising to $250 per container by April 17, 2028. Ships transporting cars that are not built in the US will be subject to a $150 fee per vehicle. LNG carriers will be required to transport 1% of US LNG exports using US-built, operated, and flagged ships within four years, a figure that will increase to 4% by 2035 and to 15% by 2047. These fees will apply once per voyage, capped at six times annually. A temporary suspension of the fees, for up to three years, may be granted if the shipowner orders and receives a US-built ship with equal or greater Net Tonnage. Exemptions exist for smaller ships, domestic routes including those to the Caribbean and within the Great Lakes, and certain specialized ship types. Bulk carriers arriving empty to load US exports like wheat or soybeans are also exempt. The policy, announced on 17 April 2025, does not apply to container ships with a capacity under 4,000 teu or to voyages under 2,000 nautical miles. Chinese shipowners and Chinese operators appear set to bear significantly higher expenses, starting with a $50 per Net Ton fee that will increase by $30 annually through 2027. In container shipping, Chinese operators such as COSCO and OOCL often run vessels of about 13,000 teu on the transpacific, equating to around 60,000 Net Tons (NT), which could result in fees of approximately $8.4 million per ship. The new US regulations do not include a cap on charges, unlike the previous plan which imposed a $1 million maximum. Ships and shipping remain essential to US economic security and the stability of trade flows. The US President Donald Trump administration’s initiative aims to counter China’s maritime dominance, secure the US supply chain, and signal stronger demand for domestically built ships. Continuing its push against Chinese maritime infrastructure, the US Trade Representative (USTR) has scheduled a hearing for 19 May 2025 on proposed 100% tariffs on ship-to-shore cranes, container chassis, and related parts. While the US President Donald Trump administration’s move received praise from US steel and shipbuilding unions, it raised concerns among many shippers, especially as transpacific trade is already under strain due to the ongoing US-China trade war. In the near to mid-term, these developments may lead to higher freight costs, reduced competitiveness of US exports, and shifts in global trade routes. Without simultaneous investment in US shipbuilding and clearer policy direction, the likelihood of trade disruptions and inflationary impacts will remain high. 18-April-2025
The US is contemplating imposing substantial fees on Chinese-built ships docking at its ports and restricting Chinese ownership of terminals within the country. The United States Trade Representative (USTR) has presented strategies to counter China’s dominance in the maritime sector, especially in shipbuilding, following an extensive investigation initiated by the Joe Biden administration. With Joe Biden’s successor, Donald Trump, back in office, it’s now up to him to decide whether to implement the recommendations from the United States Trade Representative (USTR). One proposal from the United States Trade Representative (USTR) includes imposing port fees of up to $1.5 million per visit for Chinese-built ships, affecting any ship operator with at least one Chinese-built vessel in their fleet or on order. The United States Trade Representative (USTR) report accuses Beijing of maintaining artificially low labor costs, enforcing technology transfers, and intellectual property theft. A spokesperson from China’s Ministry of Commerce in Beijing argued that these US measures would neither rejuvenate its shipbuilding industry nor increase shipping costs, potentially worsening domestic inflation, diminishing the global competitiveness of US goods, and harming the interests of US port operators and dockworkers. In an effort to revive its declining shipbuilding industry, the US has started engaging with Korean and Japanese shipbuilders. One of Donald Trump’s initial actions upon returning to power was to apply a universal 10% tariff on Chinese imports. Further recommendations from the United States Trade Representative (USTR) to regain maritime control include encouraging more use of American-flagged ships, with an aim to shift 1% of US export products to US-flagged vessels operated by American companies, increasing to 5% in three years, and reaching 15% in seven years. This approach could significantly raise costs for US importers and reduce the competitiveness of US exports. Donald Trump now faces the decision to implement the USTR’s suggestions. Additionally, a recent executive order could terminate Chinese investments in American ports. The new America First Investment Policy under the Trump administration asserts that the US should prevent Chinese control over critical US infrastructure, including shipping terminals. China’s state-run COSCO, the world’s largest shipping company, which has port interests in Long Beach through its subsidiary OOCL, was recently added to a Pentagon blacklist during the final weeks of the Biden administration. Although being on this list carries no immediate penalties, it serves as a deterrent for US companies from engaging with these entities, which are considered by Washington to be linked to the People’s Liberation Army. 24-February-2025
Chinese state-owned shipping behemoth COSCO’s project carrier arm Cosco Shipping Specialised Carriers is forecasting a significant profit increase of up to 60% for 2024, fueled by robust global trade and strong demand for its specialized vessels. The Shanghai-listed company expects its net profit for the previous year to rise by 40% to 60%, reflecting the favorable conditions in the shipping market. However, the company noted that its 20% stake in China’s Total Lubricants is negatively impacting its overall profitability. Despite this, Cosco Shipping Specialised Carriers projects a net profit of approximately CNY 1.5 billion, underscoring its strong performance in the specialized shipping sector. Chinese state-owned shipping behemoth Cosco Shipping Bulk, the dry bulk arm of Cosco Shipping Lines, continues to expand its newbuilding initiative with an agreement to construct up to eight newcastlemax bulk carriers at its group shipyard, COSCO Shipping Heavy Industry Yangzhou. Although the financial details remain undisclosed, the arrangement includes three confirmed and five optional 210K DWT newcastlemax bulk carrier newbuilds, all of which will be operated by Cosco Shipping Bulk. These vessels are designed to be methanol- and ammonia-ready, with scheduled deliveries ranging from August 2027 to November 2028. Previously, in August 2024, Cosco Shipping Bulk commissioned eight newcastlemax bulk carriers at Jiangsu Hantong, with deliveries planned between 2027 and 2028, each valued at $80 million. By January 2025, COSCO, recognized as the world’s largest shipping entity, through its dry bulk division Cosco Shipping Bulk, announced the procurement of two 325K DWT methanol dual-fuel Very Large Ore Carriers (VLOCs) at COSCO Yangzhou. This announcement was closely followed by market speculations of an intensified newbuilding campaign in May, soon after the Shanghai-listed shipowner and operator China Merchants Energy Shipping (CMES) initiated its own newcastlemax shipbuilding project. This sequence of expansions culminated in Cosco Shipping Bulk’s most substantial shipbuilding commitment to date, entailing an order for 42 bulk carriers valued at over $1.8 billion, and the latest transaction involving an order for 10 kamsarmax bulk carrier newbuilds at Jiangsu Hantong Group. These strategic moves underscore Cosco Shipping Bulk’s ongoing efforts to modernize its fleet and enhance its operational capabilities in the global shipping market. Cosco Shipping Bulk is part of the larger COSCO Shipping Corporation Limited, which is one of the world’s leading providers of integrated global freight services. The company’s extensive operations include the transportation of dry bulk goods such as iron ore, coal, and grains, along with other general cargoes. Cosco Shipping Bulk operates one of the largest dry bulk fleets globally, with a significant number of vessels that exemplify modern shipping architecture and eco-friendly technologies designed to minimize environmental impact. Chinese shipping giant Cosco Shipping Bulk’s strategic focus on expanding its fleet with methanol and ammonia-ready vessels reflects its commitment to sustainability and its proactive approach to forthcoming international regulations aimed at reducing maritime emissions. Cosco Shipping Bulk’s investment in advanced fuel technologies is aligned with the global maritime industry’s shift towards more sustainable operations. Moreover, Cosco Shipping Bulk benefits from COSCO’s comprehensive network, which includes logistics services, terminal management, and ship repair and building facilities, enabling synergies that enhance operational efficiencies across its various business units. This integrated business model allows Cosco Shipping Bulk to maintain a competitive edge in the logistics and transportation sectors, ensuring the company remains at the forefront of global trade facilitation. Cosco Shipping Bulk’s continued growth and expansion into new vessel types and technologies are pivotal parts of its long-term strategy to navigate the complex dynamics of global shipping markets and to meet the increasing demand for environmentally responsible and economically viable shipping solutions. As it moves forward, Cosco Shipping Bulk remains a key player in the industry, set on strengthening its market position and furthering its contributions to global shipping and trade. 26-January-2025
China has solidified its position as the top shipowning nation globally, according to senior analyst Rebecca Galanopoulos. She noted that China not only leads in the number of vessels but has also surpassed Japan with the most valuable fleet, valued at $255 billion. Galanopoulos also pointed out a “notable entry” by Switzerland into the top 10, with a fleet value of $68 billion, highlighting significant shifts in asset values and ownership dynamics over the past year. She explained that China’s dominance is bolstered by owning the most valuable bulker and container fleets, valued at $68.4 billion and $63.5 billion, respectively. These values have increased due to improved market fundamentals, driven by the crisis in the Red Sea and higher tonne-mile demand as vessels reroute around the Cape of Good Hope to avoid conflict areas. Galanopoulos provided an example of the increased valuation, noting that 20-year-old Capesize bulk carriers are now 27% more valuable than last year, priced at $17.6 million. Similarly, container ships of the same age with a capacity of 1,750 TEU have seen a dramatic 172% increase in value over 12 months, from $5.97 million to $16.23 million. Additionally, China leads in tanker ownership with 1,764 vessels valued at $47.9 billion. Japan remains a significant player, with its total fleet value rising from $206.3 billion to $231.3 billion at the start of 2025, driven by substantial investments and additions of nearly 60 bulk carriers. Bulk carrier values have been near 15-year highs throughout 2024. While China has more tankers, the value of the Greek tanker fleet is higher at $71.3 billion, exceeding China by $23.3 billion. Galanopoulos cited geopolitical factors, such as the Red Sea conflict and Russian sanctions, as contributing to increased tonne-mile demand, supporting tanker earnings and values. For instance, 10-year-old LR1s with a 75,000 dwt reached a 15-year high at the end of 2024, growing from $38.27 million to $43.85 million, an increase of nearly 15%. Following in the rankings are the US, Singapore, South Korea, the UK, and Norway. Switzerland’s re-entry into the top 10 is attributed to strengthening container ship values and continued investments by MSC Mediterranean Shipping Co., which added 63 secondhand vessels and placed 64 new orders for ultra-large container ships and Panamaxes in 2024. Germany closes the list at number ten, experiencing a decline in global ranking for the second year, falling from ninth place. Despite ranking second in the number of container ships, in monetary terms, Germany’s container fleet ranks fifth, valued at $27.7 billion. 24-January-2025
COSCO, the largest shipping company in the world, has responded to its recent addition to a list by the US Department of Defense, which is said to link the firm to the People’s Liberation Army. Although being on the Pentagon’s blacklist does not impose direct penalties, it does discourage US companies from engaging with listed firms considered to be military entities. In its defense, COSCO clarified that the specific subsidiaries mentioned, such as Cosco Shipping Bulk from Cosco Shipping Lines, are not affiliated with the Chinese military. The Beijing-based shipping behemoth is actively engaging with relevant US authorities to rectify misconceptions. Cosco Shipping Bulk, the dry bulk division of COSCO, is a crucial segment of COSCO’s operations, specializing in the transportation of bulk cargo such as coal, iron ore, and grains. This division operates a fleet that includes a variety of bulk carriers, ranging from smaller handysize vessels to the larger capesize ships, which are essential for long-haul bulk commodity transportation. With its modern and diverse fleet, Cosco Shipping Bulk is well-positioned to capitalize on global trade flows, enhancing COSCO’s ability to offer comprehensive logistics and transportation solutions across the globe. COSCO emphasized that being named on this list does not equate to being part of any sanctions or export control lists, and affirmed that its operations and business globally would remain unaffected. COSCO pointed out that inclusion on the Pentagon’s China military list does not lead to significant disruptions since it does not involve any formal penalties, except that the US military cannot use COSCO for transporting cargo. Despite the lack of sanctions on COSCO and other companies on the list, there is a risk of ‘self-sanctioning’ by market participants wary of contravening US policies. Moreover, Cosco Shipping Bulk has been proactive in adopting eco-friendly practices and technologies. Cosco Shipping Bulk has been involved in several initiatives aimed at reducing the environmental impact of its operations, including investing in newer, more fuel-efficient ships and retrofitting older vessels with cleaner technology to comply with international emissions standards. This commitment to sustainability not only helps in reducing operational costs but also positions Cosco Shipping Bulk as a leader in the green transition within the dry bulk shipping sector. Also included on the Pentagon’s blacklist are prominent Chinese entities such as China State Shipbuilding Corp (CSSC), the leading shipbuilder, and China National Offshore Oil Corporation (CNOOC), the foremost offshore explorer. Other maritime firms labeled as military entities include China International Marine Containers (CIMC), the top container producer, China Communications Construction Group, a significant global port builder, and Sinotrans & CSC Holdings, one of China’s principal shipowners. Previously, in 2019, COSCO faced sanctions from Washington when its tankers were temporarily penalized for transporting Iranian oil, an incident that caused rates for Very Large Crude Carriers (VLCC) to soar to $200,000 per day. The resilience and strategic planning displayed by Cosco Shipping Bulk and the broader COSCO organization during such turbulent times underscore their importance in the global maritime industry. 23-January-2025
The Chinese state-owned shipping titan, Cosco Shipping Bulk, the dry bulk division of COSCO, is aggressively advancing its extensive newbuilding program in the dry bulk sector. Cosco Shipping Bulk has formed a partnership with Everbright Financial Leasing for the construction of 10 kamsarmax bulk carriers at Jiangsu Hantong Ship Heavy Industry. The financial specifics and delivery timelines for these 82K DWT kamsarmax bulk carrier newbuilds, which will be leased to entities within Cosco Shipping Bulk, remain undisclosed. This recent arrangement is part of a broader expansion strategy, following closely on the heels of COSCO’s substantial shipbuilding commitment of 42 bulk carriers valued at over $1.8 billion, distributed among its associated shipyards, COSCO Shipping Heavy Industry and CSSC Chengxi Shipyard, in September, along with the procurement of eight newcastlemax bulk carriers at Jiangsu Hantong in August 2024. Cosco Shipping Bulk, a subsidiary of the global maritime conglomerate COSCO Shipping Group, specializes in the transportation of dry bulk cargo, including iron ore, coal, grain, and other commodities essential to global trade. With its headquarters in Shanghai, Cosco Shipping Bulk operates one of the largest dry bulk fleets in the world, comprising various vessel types that cater to different cargo specifications and port requirements. As a state-owned enterprise, Cosco Shipping Bulk benefits from strong governmental support and access to capital, which facilitates its expansive fleet development programs and strategic partnerships, like that with Everbright Financial Leasing. These collaborations are critical to sustaining its fleet expansion and modernization strategies, aimed at enhancing operational efficiency and environmental compliance. Moreover, Cosco Shipping Bulk is committed to adopting greener technologies and practices across its operations. This includes investing in newbuilds that are capable of using alternative fuels such as methanol and ammonia, aligning with international maritime regulations on emissions. Such initiatives not only demonstrate Cosco Shipping Bulk’s commitment to environmental stewardship but also position the company as a leader in the transition towards more sustainable maritime transport solutions. Cosco Shipping Bulk’s aggressive expansion and modernization of its fleet are integral components of its strategy to maintain a competitive edge in the global shipping market. This strategy not only enhances Cosco Shipping Bulk’s capacity to meet the growing demand for maritime transport but also strengthens its role in supporting global supply chains in a more efficient and environmentally responsible manner. With each newbuilding program, Cosco Shipping Bulk cements its status as a key player in the maritime industry, poised to meet future challenges and capitalize on emerging opportunities. 1-January-2025
Cosco Shipping Bulk, the dry bulk division of Cosco Shipping Lines, has expanded its fleet with a significant newbuilding initiative in the dry bulk sector. This Chinese state-owned maritime behemoth has placed orders for 42 bulk carrier newbuilds through its subsidiaries COSCO Shipping Heavy Industry and CSSC Chengxi Shipyard in two distinct agreements valued at over $2 billion combined. COSCO Shipping Heavy Industry will oversee the construction of 20 new vessels, including five 64K DWT ultramax bulk carriers and thirteen 80K DWT kamsarmax bulk carriers. CSSC Chengxi Shipyard will construct the remaining twenty-two 80K DWT kamsarmax bulk carriers. This order is Cosco Shipping Bulk’s most substantial shipbuilding commitment to date, following closely on the heels of their acquisition of twelve 14K TEU methanol dual-fuel containerships and eight newcastlemax bulk carriers. The delivery of these new bulk carriers is scheduled for Q4 2026 and Q1 2027. All 42 new bulk carriers will be leased to entities within Cosco Shipping Bulk, further bolstering its position in the dry bulk segment of the maritime industry. 2-September-2024
Cosco Shipping Bulk, the dry bulk division of the Chinese maritime giant Cosco Shipping Lines, is expanding its fleet with the addition of eight newcastlemax bulk carrier newbuilds at the domestic shipyard Jiangsu Hantong, in a deal valued at approximately $640 million. Cosco Shipping Bulk, the dry bulk arm of the Chinese behemoth COSCO Shipping, has placed orders for 210K DWT newcastlemax bulk carriers at Jiangsu Hantong, with each vessel priced at $80 million. The newcastlemax bulk carrier newbuilds are scheduled for delivery between Q4 2027 and Q1 2028, further augmenting Cosco Shipping Bulk’s already extensive fleet of around 200 bulk carriers. In January 2024, Cosco Shipping Bulk announced orders for two 325K DWT methanol dual-fuel Very Large Ore Carriers (VLOCs) at its affiliated yard, COSCO Yangzhou. This was followed by market rumors in May 2024 of a newbuilding surge, coinciding with China Merchants Energy Shipping’s own newcastlemax shipbuilding program, which has already seen 12 bulk carriers confirmed in 2024. A noticeable trend in recent months has been the preference among shipowners to supersize their orders, opting for newcastlemax bulk carriers over the traditional 180K DWT standard capesize bulk carriers. This shift is particularly evident despite the overall capesize bulk carrier orderbook remaining low, signaling a strategic move by major players like Cosco Shipping Bulk to enhance their carrying capacity and operational efficiency. Cosco Shipping Bulk, as a key division of COSCO Shipping Lines, plays a pivotal role in the global dry bulk market. The company operates one of the largest dry bulk fleets in the world, with a diverse range of vessels capable of transporting various bulk commodities such as coal, iron ore, and grain. The company’s fleet includes a variety of vessel types, ranging from handysize to capesize and newcastlemax bulk carriers, enabling it to cater to a wide spectrum of shipping demands. As part of COSCO Shipping’s broader strategy, Cosco Shipping Bulk is focused on expanding and modernizing its fleet to maintain its competitive edge in the global market. The addition of these newcastlemax bulk carriers not only reflects the company’s commitment to fleet expansion but also aligns with its efforts to meet stricter environmental regulations. By investing in more fuel-efficient and technologically advanced vessels, Cosco Shipping Bulk is positioning itself to capitalize on the growing demand for sustainable shipping solutions. Cosco Shipping Bulk has also been actively involved in various global initiatives aimed at reducing the carbon footprint of the maritime industry. The company is committed to adopting alternative fuels and enhancing the energy efficiency of its fleet, which is evident in its recent orders for methanol dual-fuel VLOCs. These initiatives are part of Cosco Shipping Bulk’s long-term vision to support China’s leadership in green shipping and contribute to the global push for decarbonization in the maritime sector. The strategic focus on newcastlemax bulk carriers aligns with the global shipping industry’s ongoing efforts to optimize economies of scale and improve fuel efficiency, particularly as environmental regulations become increasingly stringent. By investing in larger and more advanced vessels, Cosco Shipping Bulk is positioning itself to continue its leadership in the dry bulk sector, while also supporting China’s broader goals of enhancing its maritime capabilities and reducing the environmental impact of its shipping activities. Overall, Cosco Shipping Bulk’s aggressive expansion and modernization strategies highlight its determination to remain at the forefront of the dry bulk industry, ensuring it continues to play a critical role in facilitating global trade and supporting the evolving needs of its customers. 21-August-2024
Cosco Shipping Bulk, the dry bulk division of the Chinese maritime giant Cosco Shipping Lines, has entered into a preliminary agreement with the Australian mining powerhouse Fortescue to establish a green fuel supply chain aimed at reducing pollution within the shipping industry. The partnership, formalized through a Memorandum of Understanding (MOU), focuses on the potential construction and operation of green ammonia-fueled bulk carriers. These vessels would be owned either solely by Cosco or jointly with Fortescue, designed specifically to transport iron ore and other minerals along the China-Australia iron ore green shipping corridor, thereby cutting down carbon emissions. Based in Shanghai, Cosco Shipping Bulk is dedicated to enhancing cooperation with global partners to promote sustainable and eco-friendly practices throughout the maritime industry’s lifecycle. This collaboration with Fortescue represents a significant advancement in the efforts to decarbonize shipping, aligning with Cosco Shipping Bulk’s ambitious goal to achieve net-zero Scope 3 emissions by 2040. Fortescue, recognized as the world’s fourth-largest iron ore supplier and an integrated green technology, energy, and metals company, has been actively seeking partnerships in China. Recent visits by Fortescue’s executives to China were aimed at discussing joint ventures, such as this green initiative with Cosco Shipping Bulk. Notably, Fortescue spearheaded the world’s first trial of using ammonia as bunker fuel in the port of Singapore, marking a milestone in the use of alternative fuels within the maritime sector. 29-July-2024
Cosco Shipping Bulk, the dry bulk arm of the Chinese shipping behemoth Cosco Shipping Lines, is making strategic moves by exploring its first newbuilding order in Japan in two decades. The company is actively seeking to contract a series of capesize bulk carriers, marking a significant shift in its procurement strategy, traditionally focused on domestic shipyards. Cosco Shipping Bulk has reached out to several Japanese shipyards, signaling a renewed interest in the Japanese maritime construction market. The company is enquiring about the availability of at least 10 shipbuilding slots specifically for 180K DWT capesize bulk carriers. This exploration has come as a surprise to the Japanese shipbuilding industry, which has grown accustomed to seeing Cosco favoring domestic options for its expansive fleet requirements. This strategic pivot towards Japanese shipyards could be indicative of Cosco Shipping Bulk’s broader objectives, possibly driven by technological advancements, competitive pricing, or specific capabilities offered by Japanese shipbuilders that align with Cosco’s operational needs and sustainability goals. This development is being closely watched by industry observers as it could herald a new era of Sino-Japanese cooperation in the maritime sector and influence future trends in global shipbuilding. 27-June-2024
Nantong Xiangyu Shipbuilding & Offshore Engineering has finalized an agreement to construct eight ultramax bulk carriers, each with a capacity of 64K DWT and prepared for methanol fuel, with Xiamen Jinxian and COSCO Shipping Bulk. The shipbuilder, Nantong Xiangyu Shipbuilding & Offshore Engineering, states that these methanol-ready ultramax bulk carriers will feature enhanced loading capacities and reduced fuel consumption compared to their counterparts both domestically and internationally, in addition to offering superior environmental benefits. The financial specifics of this agreement remain confidential. Presently, Nantong Xiangyu Shipbuilding & Offshore Engineering boasts over 100 ultramax bulk carrier orders, marking the highest number among all Chinese shipyards. 13-March-2024
The mining corporation Vale is supporting the second-ever order for dual-fuel Very Large Ore Carriers (VLOCs), with indications that the methanol-powered Guaibamax bulk carriers will be used for Vale’s shipments. Cosco Shipping Bulk has placed an order for two of these methanol dual-fuel VLOCs. These carriers, each with a capacity of 325,000 DWT and fueled by methanol, will be constructed by Cosco Shipping Heavy Industry Yangzhou. This makes Chinese shipping giant Cosco Shipping’s arm Cosco Shipping Bulk the second entity to commission methanol dual-fuel VLOCs. The first company to do so was Shandong Shipping, which arranged for the construction of four new ships at Qingdao Beihai Shipbuilding Heavy Industry, backed by charter agreements with the Brazilian mining titan Vale. 3-January-2024
Electronic Bills of Lading (eBL) are now being utilized for energy transportation and bulk shipments, with Chinese shipping giant Cosco Shipping Bulk integrating with the blockchain platform Global Shipping Business Network (GSBN), headquartered in Hong Kong. Historically, bulk and energy shipments have predominantly depended on LOIs (Letters of Indemnity) to verify shipment ownership. These LOIs (Letters of Indemnity) authorized the release of cargo to the consignee when the Original Bill of Lading was not available. Chinese shipping giant Cosco Shipping Bulk has demonstrated that this outdated system can be modernized for today’s digital age. Recently, Cosco Shipping Bulk issued its inaugural Electronic Bills of Lading (eBL) for Yancoal, an Australian coal producer. This Electronic Bills of Lading (eBL) connected the entire business chain, encompassing banks, traders, miners, and end-users. Additionally, COSCO Energy released its first Electronic Bills of Lading (eBL) for a 30K mtons domestic marine oil shipment for the China National Offshore Oil Corporation this month. This Electronic Bills of Lading (eBL) received confirmation from both upstream and downstream entities and was returned to the COSCO Energy to finalize the release. This announcement marks a pivotal step for the consortium and the shipping industry’s digitization process. The successful creation of Electronic Bills of Ladings (eBLs) for bulk cargo and energy shipments will also pave the way for enhanced trade financing in the sector. Banks are keen on a unified platform to interact with all forms of Electronic Bills of Ladings (eBLs) and reliable shipping data. 27-September-2023
Cosco Shipping anticipates a significant decline of 74% in its earnings due to the downward trend in container rates. The prominent Chinese conglomerate, Cosco Shipping, acknowledges a shift in the balance between supply and demand within the shipping industry. Cosco Shipping Holdings foresees a substantial decrease in its interim earnings amid challenging market conditions. The publicly listed company, Cosco Shipping, based in Hong Kong and Shanghai, has stated that its net profit is projected to amount to CNY 19.66 billion. 6-July-2023
Chinese shipping giant Cosco Shipping’s arm Cosco Shipping Specialised Carriers ordered twenty (20) wood-pulp carrier new buildings at three Chinese shipyards. Cosco Shipping Specialised Carriers will pay around $1 billion total for twenty (20) 85K DWT wood-pulp carrier new buildings. In Q1 2023, Cosco Shipping Specialised Carriers ordered twenty-four (24) PCTC (Pure Car Truck Carrier) new buildings at Chinese shipyards. Chinese shipping giant Cosco Shipping’s arm Cosco Shipping Specialised Carriers will start taking delivery of twenty (20) wood-pulp carrier new buildings in H1 2026. 4-April-2023
Singapore-listed Cosco Shipping International reported revenue of $92 million for H1 2022. Singapore-listed Cosco Shipping International reported a net profit of $$4.4 million for H1 2022. Cosco Shipping International Singapore blamed the dumping of a 60% stake in the company’s dry bulk shipping subsidiary in December 2021. In December 2021, Chinese shipping giant Cosco Shipping Bulk acquired a 60% stake in sister company Singapore-listed Cosco Shipping International. Currently, Singapore-listed Cosco Shipping International operates three (3) supramax bulk carriers. Cosco Shipping International Singapore sell-down witnesses profit dip. Singapore-listed Cosco Shipping International expresses that the existing core vessel repair and logistics businesses performed very well during H1 2022. Chinese shipping goliath Cosco Shipping Bulk is one of the largest dry bulk shipping players. Cosco Shipping Bulk controls a fleet of approximately 400 mixed bulk carriers. Singapore-listed Cosco Shipping International strives to become one of the foremost integrated logistics service providers in Southeast Asia. In December 2021, Cosco Shipping Bulk acquired a 60% stake in sister company Singapore-listed Cosco Shipping International. 15-August-2022
Chinese shipping giant Cosco Shipping Bulk acquired a 60% stake in sister company Singapore-listed Cosco Shipping International. Cosco Shipping Bulk spent around $42 million for a 60% stake of Cosco Shipping International. Currently, Singapore-listed Cosco Shipping International operates three (3) supramax bulk carriers. Singapore-listed Cosco Shipping International stated that the deal was part of a decision to expand priority on the company’s core business. The dry bulk shipping industry is complementary to the Cosco Group’s core logistics business Furthermore, Chinese shipping giant Cosco Group has ship repair and marine engineering services. Chinese shipping giant Cosco Shipping Bulk is one of the largest dry bulk shipping players. Cosco Shipping Bulk controls a fleet of approximately 400 mixed bulk carriers. Singapore-listed Cosco Shipping International strives to become one of the foremost integrated logistics service providers in Southeast Asia. 28-December-2021
Cosco Shipping Bulk controlled 2014 built panamax bulk carrier 81K DWT MV Cofco 1 refloated by tugboats in the Parana River. No damage or pollution have been reported by Cosco Shipping Bulk. Cosco Shipping Bulk controlled MV Cofco 1 was loaded with 41K tones of soybean meal from an upriver port. Parana River is an essential transportation route for agricultural products. Due to the low rain season, low water levels of the Parana River have hindered grain transport on South America’s second-longest river. 28-May-2020
On 28 March 2020, Cosco Shipping Bulk confirmed that 2015 built ultramax bulk carrier 63K DWT MV Feng De Hai’s second officer had died of coronavirus. MV Feng De Hai sailed from Guinea to Dneprobugsky in Ukraine. Second officer Mr. Wang did not leave the ship, had no contact with persons with fever, and had no symptoms of Covid-19. Mr. Wang’s body was removed from MV Feng De Hai this weekend while transiting the Bosphorus. According to Cosco Shipping Bulk, other crew members were suffering no symptoms of coronavirus, and the rest of the crew was tested negative Covid-19. Cosco Shipping Bulk complies with health practices and regulations regarding Covid-19 and took all necessary precautions. MV Feng De Hai has strictly implemented relevant prevention and control measures. After the Bosphorus transit, the crew did not go on shore and body temperature was measured daily. All remaining 24 crew members have normal body temperature and no fever. At the Dneprobugsky port in Ukraine, remaining crew members were all tested and reported as negative Covid-19. All crew have passed inspection and quarantine of the Ukrainian authorities. 31-March-2020
Chinese shipping giant Cosco Shipping Bulk defends tribunal claim arising from Britannia Bulk AS bankruptcy in 2008. Cosco Bulk Carrier was the issue of an appeal in the London High Court over a deal for MV Grand Fortune in 2007. The London tribunal had ruled that it had jurisdiction to decide on whether Cosco Shipping Bulk was owed money by the MV Grand Fortune’s sub-charterer Americas Bulk Transport (ABT), a party unattached to Britannia Bulk AS. Tribunal’s jurisdiction explored whether the MV Grand Fortune was time chartered by Cosco Shipping Bulk to Britannia Bulk AS or its subsidiary. Britannia Bulk AS was controlling approximately 75% and Bulkers controlling approximately 25%. Bulkers went into insolvent liquidation in November 2008. A disagreement arose between Bulkers and Cosco Shipping Bulk regarding charter fees owed to the Cosco Shipping Bulk. Cosco Shipping Bulk took an assignment of Bulkers’ rights, which is then utilized by declaring allegedly outstanding hire from Americas Bulk Transport (ABT). Cosco Shipping Bulk’s claims against Americas Bulk Transport (ABT) are obtained as assignee of the rights of Bulkers. The UK court arrived at the same decision as to the arbitrators: that the party which chartered the MV Grand Fortune to the claimants was Britannia Bulkers A/S. 12-February-2020
Chinese shipping giant Cosco Shipping Bulk’s sister company Singapore-listed Cosco Shipping International reported a net profit of $0.87 million in Q3 2019. Chinese shipping giant Cosco Shipping Bulk’s sister company Singapore-listed Cosco Shipping International has been hit by higher costs. Cosco Shipping International reported lower earnings in Q3 2019. Cosco Shipping International reported revenue of $31 million in Q3 2019. Cosco Shipping Bulk’s sister company Singapore-listed Cosco Shipping International stated its bulk carriers had logged lower charter rates and the finance costs increased due to an increase in interest. 12-November-2019
China’s National Council for Social Security Fund (SSF) has taken a 10% stake in shipping giant Cosco Shipping as part of China’s pension reform. Cosco Shipping Bulk is a subsidiary of Cosco Shipping. Cosco Shipping Energy Transportation, which is another subsidiary of Cosco Shipping, has reported that the state-owned Assets Supervision and Administration Commission has transferred the 10% stake to the Social Security Fund (SSF) for free. Previously, the state-owned Assets Supervision and Administration Commission owned 100% of Cosco Shipping. Currently, Cosco Shipping is China’s biggest shipping company. China has selected to transfer state capital into the Social Security Fund (SSF). The Chinese government has strived to move a substantial portion of the government’s stakes in state-owned corporations to the Social Security Fund (SSF) by the end of 2020. 1-November-2019
China has approved to more than double its annual buys of US farming by-products to as much as $50 billion. China expected that sanctions against shipping giant Cosco Shipping’s tanker subsidiaries might be lifted. However, this failed to materialize. After the US-China trade war, China is expected to commence purchasing enormous quantities of US agricultural products. In return, China is declared to have persuaded the US to hold off another round of tariff increases. The Chinese reply to the phase one trade agreement signed with the US on Friday was skeptical but welcoming. China is buying time for its companies such as Cosco Shipping to adapt to shifts in demand and the supply chain. 15-October-2019
Chinese shipping giant Cosco Shipping Bulk’s sister company Cosco Shipping Specialized Carriers (former Guangzhou Ocean Shipping) has increased its fleet with one semi-submersible heavy-lift newbuilding at Guangzhou Shipyard International (GSI). This is the second newbuilding contract signed in 2019 by Cosco Shipping Specialized Carriers. China Guangzhou headquartered Cosco Shipping Bulk’s sister company Cosco Shipping Specialized Carriers has signed a newbuilding contract with state-owned Guangzhou Shipyard International (GSI). Cosco Shipping Specialized Carriers has ordered 50K DWT semi-submersible heavy-lift newbuilding to be delivered during the Q1 2021 for undisclosed price tag. In March 2019, Cosco Shipping Bulk’s sister company Cosco Shipping Specialized Carriers (former Guangzhou Ocean Shipping) exercised four option orders 62K DWT wood-pulp carriers at Cosco Shipping Heavy Industries’ Dalian yard for delivery in 2021. In 2018, Cosco Shipping Bulk’s sister company Cosco Shipping Specialized Carriers ordered five 62K DWT wood-pulp carriers with four options. Five 62K DWT wood-pulp carriers will be delivered till February 2021. 62K DWT wood-pulp carriers has a price tag of $33 million for each. Cosco Shipping Specialized Carriers (former Guangzhou Ocean Shipping) also has two 2,200-ceu car carriers under construction at China Shipbuilding Industry Co (CSIC) controlled Wuchang Shipbuilding. Cosco Shipping Specialized Carriers (former Guangzhou Ocean Shipping) is a sister company of giant state-owned COSCO that controls MPP (multipurpose) ships heavy-lift vessels, car carriers, bitumen carriers and log carriers. It reportedly has a trading fleet of 112 vessels. 28-June-2019
Chinese shipping giant Cosco Shipping Bulk’s sister company Singapore-listed Cosco Shipping International reported revenue of $2.5 million in Q1 2019. Cosco Shipping International reported a net profit of $2.1 million in Q1 2019. Nevertheless, bulk carrier charter rates were lower in Q1 2019. Cosco Shipping Bulk’s sister company Singapore-listed Cosco Shipping International primarily concentrated on supramax bulk carriers. Currently, Cosco Shipping International owns and operates three (3) bulk carriers. 14-May-2019
Chinese shipping giant Cosco Shipping Bulk has added 3 more newcastlemax new-buildings 210K DWT at CSIC Qingdao Beihai Shipbuilding Heavy Industry. Cosco Shipping Bulk will add a second tranche of bulk carriers to a major project. Final Cosco Shipping Bulk newcastlemax haul could extend to 30 bulk carriers to meet a bauxite contract with Chalco. Chalco is China’s largest producer of both alumina and aluminum. New York and Hong Kong-listed Chalco have entered into an agreement with the Guinea government to develop a bauxite project in Boffa, Guinea. At the beginning of April 2019, Cosco Shipping Bulk ordered up to 10 bulk carriers at Cosco HI Yangzhou. Tianjin Xingang Shipbuilding Heavy Industry is also set to win deals for 3 bulk carriers from Cosco Shipping Bulk. Sino-Japanese shipyard Dalian Cosco KHI Ship Engineering is expected to win 2 bulk carriers. 28-April-2019
Cosco Shipping Bulk ordered 10 newcastlemax dry bulk carriers 210K DWT at Cosco Shipping Heavy Industry Yangzhou Shipyard (Cosco HI Yangzhou). Cosco Shipping Bulk has confirmed 8 firm newcastlemax dry bulk carriers and 2 optional bulk carriers. Cosco Shipping Bulk is going to pay $54 million per newcastlemax dry bulk carrier and a total $432 million. Newcastlemax dry bulk carriers will be scrubber-fitted and the first delivery will be in H1 2021. Cosco Shipping Bulk is ordering the newcastlemax dry bulk carriers to carry bauxite from Guinea to China for state-controlled Aluminum Corp of China (Chalco) having secured a long-term COA (Contract-of-Affreightment). African country Guinea set for greater bauxite exports after mine approval of government. Chalco (Aluminum Corp of China) has been listed in Hong Kong and New York. Chalco is China’s largest producer of both alumina and aluminum. Beijing-based Chalco (Aluminum Corp of China) has entered into an agreement with the Guinea government to develop a bauxite project in Boffa. Chalco (Aluminum Corp of China) has granted mining licenses for 15 years, with options for another 15 years. West Africa Boffa, Guinea project holds around 1.75 billion tonnes of bauxite. 22-April-2019
Chinese dry bulk shipping giant Cosco Shipping Bulk has set up a representative office in Geneva, Switzerland on 26 November 2018. Geneva branch will be state-owned giant China Cosco Shipping’s first office in Switzerland. China Cosco Shipping’s Geneva office would establish close ties with grain traders at the heart of grain trading hub. During the branch office opening ceremony, Cosco Shipping Bulk Chairman Huang Xiaowen mentioned his plans on how to cooperate with the Swiss traders. Cosco Shipping Bulk, a non-listed unit of China Cosco Shipping, operates more than 400 bulk carriers with a total carrying capacity of over 37 million DWT. Most of the giant trading companies have operations office in Geneva, Switzerland. Cofco International, the trading arm of Chinese grains giant COFCO, is also headquartered in Geneva. In 2016, New York-listed Star Bulk Carriers established Star Logistics Management in Geneva, Switzerland to focus on grains charters for kamsarmax dry bulk carriers. In 2017, Cosco Shipping Bulk and Cofco International sealed a strategic cooperation agreement to work on more contracts of affreightments (COAs). 16-December-2018
COSCO Shipping Bulk’s dry bulk carrier MV CF Crystal and NITC’s suezmax tanker MT Sanchi collided 160 miles off Shanghai, China on 7 January 2018. 32 crew members are reported missing after the deadly collision. 2011 built dry bulk carrier 76K DWT MV CF Crystal which was carrying 64K tons of grain cargo from USA collided with 2008 built tanker 164K DWT MT Sanchi which was carrying 136K tons of light crude oil from Iran. There was an explosion on MT Sanchi and the Chinese government immediately sent 7 rescue and clean-up boats to the accident area. 136K tons of light crude oil is worth about $60 million and MT Sanchi chartered by Hanwha Total Petrochemical. MV CF Crystal is operated by COSCO Shipping Bulk CoscoCS subsidiary Shanghai CP International. MV CF Crystal damage is non-critical and all 21 crew members rescued from the dry bulk carrier. 7-January-2018
Chinese Cosco Shipping Bulk has chartered out commodity giant Bunge 2017 capesize dry bulk carrier 179K DWT M/V Xin Li Hai for $16,200 per day for 8 to 11 months. One-year period charter rates for capesize dry bulk carriers are now higher than spot rates of $11,800. 7-May-2017
Shanghai shipowner and operator China Cosco Shipping Bulk is preparing to launch a new financial leasing operation that will compete with a number of other leasing companies. China Cosco Shipping Bulk’s new leasing shop has currently only three employees and is targeting a $3 billion v in ship finance annually. China Cosco Shipping Bulk’s new leasing shop is said to be targeting third-party assets. This will make it different from sister leasing entity Cosco Shipping Development Co (CSDC) which is mostly financing of COSCO tonnage. 9-December-2016
BNP Paribas arrested of a Niton Capital-owned supramax bulk carrier 2004 Japanese built 52K M/V Niton Cobalt in Singapore last week. BNP Paribas filed a $1.6 million mortgage claim against M/V Niton Cobalt. In 2014, Niton Capital bought M/V Niton Cobalt as M/V Sea Lily from COSCO Shipping Bulk for $16 million. Ship Manager and Ship Operator of M/V Niton Cobal has been switched from SGM Maritime Services to Niton Cobalt Maritime. 22-November-2016
China’s biggest shipping merger COSCO Shipping Bulk and China Shipping Group which is the world’s largest shipping company China Cosco Shipping (CoscoCS) has notified hundreds of China’s maritime university students who had signed letters of intent (LOIs) a month ago that it will not be signing their contracts. Dalian Maritime University (DMU) and Shanghai Maritime University (SMU) has been informed that CoscoCS will not be taking cadets this year. CoscoCS was taking several hundred maritime students each year for training and service onboard their vessels. Sinocrew managing director Captain Wang Jixuan raised the question of cost-cutting and training at Bimco’s annual conference in Shanghai, where he did not mention the CoscoCS move but, in general terms, challenged a shipowner panel on whether they are endangering ships, lives and the environment by cutting their crewing and training expenditures. 15-November-2016
Release of the Panama Papers database which contains the leaked corporate registration database of Panamanian law firm Mossack Fonseca might effect a few shipping companies to name a few: COSCO group, COSCO Shipping Bulk, China Shipping Group, Fred Olsen & Co and Evergreen Marine, former COSCO chairman Wei Jiafu, Israeli billionaire Idan Ofer, shipowner Fred Cheng. In shipping setting up single-purpose companies in such tax havens are common so the appearance in the Panama Papers is not a sign of wrongdoing. But, for maritime lawyers, Panama Papers is a new tool for hunting and seizing assets in disputes. 16-May-2016