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COSCO Shipping Specialized Carriers Signs $310 Million Contract for Six Heavylift Carriers
JIN XIU (Photo: COSCO Shipping Specialized Carriers)
COSCO Shipping Specialized Carriers is adding multipurpose heavylift vessels through a deal with Bank of Communications Leasing Company (BoComm Leasing).
A Shanghai-listed subsidiary of COSCO Shipping Group, with a diverse fleet of over 150 vessels, the company has signed contracts to build 60,000 DWT vessels at Chengxi Shipyard, a member of China State Shipbuilding Corporation (CSSC).
Under the agreement, COSCO Shipping Specialized Carriers will take a bareboat charter for about 16 years, at a cost of about $19.4 million per year, or a total contract value of about $310 million.
The company has entered into multiple charter deals with BoComm Leasing and other domestic Chinese lessors to expand its fleet for specialized transportation needs, including heavy-lift and pulp carrier projects.
Earlier this year, local media reported that COSCO Shipping Specialized Carriers plans to add more than 50 vessels, including car carriers, multipurpose vessels and heavy-lift carriers by the end of this year, to meet growing demand for the transportation of wind power products, port machinery and other specialized cargo.
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