Shipping

COSCO orders 16 VLCCs in deal worth about $2 billion

11 November 2026
2 sources

COSCO Shipping Development has contracted 16 307,000-dwt very large crude carriers at Dalian Shipbuilding Industry for approximately $2.01 billion, with deliveries scheduled from October 2029 to December 2030.

COSCO Shipping Development has signed contracts with Dalian Shipbuilding Industry for 16 very large crude carriers, each capable of carrying 307,000 deadweight tonnes. The contracts are valued at RMB13.43 billion, or about $2.01 billion, excluding tax.

Share this article

Related news

Shipping
11 Nov

Tanker freight rates fall sharply after October’s peak

Crude tanker freight costs on several key routes have fallen by roughly half from record levels, although selected trades continue to generate strong earnings.

2 sources
Shipping
10 Nov

Hapag-Lloyd raises outlook for the third time as freight rates remain strong

Hapag-Lloyd lifted its full-year outlook for the third time this year, citing resilient container freight rates and stronger-than-expected fourth-quarter performance.

2 sources
Shipping
9 Nov

CMA CGM Introduces War-Risk Surcharge for Black Sea Container Cargo

The surcharge is set at $35 per 20-foot container and $70 per 40-foot container for shipments involving several Black Sea ports.

3 sources