COSCO Orders Two Large Gas Carriers for 2027 Delivery

Chinese state-owned maritime leader COSCO has made another strategic move in the gas carrier market with a new round of shipbuilding orders.

According to Clarksons, COSCO Shipping Investment Dalian—a subsidiary of the group—has placed an order for two 88,000-cubic-meter gas carriers. The ships will be constructed at COSCO Heavy Industry’s Qidong Offshore yard, with deliveries slated for September and December of 2027.

While the exact contract value hasn’t been disclosed, industry insiders suggest that vessels of this type are currently priced at around $120 million apiece in the Chinese market.

COSCO Dalian, which was formed in early 2019, entered the newbuilding scene in 2021 with its first order—two 5,500-cubic-meter LPG carriers from China Merchants Jinling Shipyard Dingheng.

The company expanded its fleet in November 2022 by acquiring its first Very Large Gas Carrier (VLGC), the 83,000-cubic-meter Chang Xing Yuan (previously known as Gas Aries), from Tianjin Southwest Maritime for approximately $60 million.

COSCO is also reported to have commissioned additional VLGCs from the same Qidong shipyard late last year, with the first pair expected to be delivered in 2026.