COSCO Shipping, the world’s fourth largest carrier, is to massively add to the global containership orderbook, detailing a $4.9bn outlay in new ships.
The container arm of China’s largest maritime conglomerate has laid out plans to order 32 ships totalling 580,000 teu, all for delivery by the end of 2025, according to Nikkei Asia. The ships will be duel fuelled with many set to incorporate methanol.
Last month, COSCO Shipping unveiled a corporate reorganisation. COSCO said the organisational overhaul would position the company as a “global digital supply chain operation and investment platform” with a core focus on container shipping, ports and logistics.
The corporate reshuffle sees the creation of a new supply chain logistics division as well as a capital operation division.