COSCO Shipping Bulk Orders Four Newcastlemax Bulk Carriers

Chinese dry bulk operator COSCO Shipping Bulk has placed an order for four newcastlemax bulk carriers at CSSC Qingdao Beihai Shipbuilding.

The agreement was signed with China Shipbuilding Trading, while ICBC Financial Leasing is also participating in the project. Neither the contract value nor the delivery timeline has been revealed, although shipbuilding industry sources expect all four vessels to be delivered in 2029.

Each of the 210,000 dwt ships will feature a design that allows for future conversion to either methanol or ammonia propulsion, supporting the industry’s shift toward lower-emission fuels.

This marks COSCO Shipping Bulk’s second newcastlemax order with Beihai this year. In January, the company commissioned three vessels of the same size, with deliveries scheduled for the second quarter of 2029.

It has been said that those three ships will also be capable of carrying containers in addition to dry bulk and general cargo. Before that order, COSCO Shipping Bulk had contracted the yard to build two 209,800 dwt newcastlemaxes for delivery in 2027.

The latest order is part of a broader fleet expansion across the COSCO group. Earlier this month, COSCO Shipping Development announced an RMB8.66 billion ($1.27 billion) investment program for 24 bulk carriers, which will be leased to a COSCO Shipping Bulk subsidiary under 20-year charter agreements.