STATE giant China Cosco Shipping Corp continues its ordering spree, lining up 12 new 14,000 teu methanol dual-fuel containerships.

Its container shipping and port arm, Shanghai- and Hong Kong-listed Cosco Shipping Holdings, said in a stock exchange filing that its shareholders’ meeting has approved the newbuilding plan.

No further details were revealed regarding shipyards, pricing or delivery schedules.

The specifications mirror CSH’s August order at Cosco Shipping Heavy Industry (Yangzhou) for the same number and size of methanol-powered ships.

Those vessels were priced at around $179.5m each, scheduled for delivery between May 2027 and March 2029.

Since starting its ordering binge three months ago, the Cosco group has booked 78 newbuildings so far, encompassing 24 containerships, 42 bulkers, two LNG carriers and four asphalt tankers.

This latest deal, when finalised, will lift the tally to 90 ships, further substantiating speculation around the state conglomerate’s massive fleet renewal plans for over 100 new vessels.

It will also boost the orderbook size of CSH, which controls the world’s fourth-largest containership fleet, to above 1m teu, helping narrow its gap with bigger foreign rivals CMA CGM and Mediterranean Shipping Co.

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