COSCO Shipping Energy Transportation orders six tankers

COSCO Shipping Energy Transportation declared that it would build six new tankers with an investment of RMB3.4 billion ($470 million). The new construction project consists of two 74,000 dwt methanol-fuel-ready tankers at COSCO Shipping Heavy Industry (Dalian) that will be delivered in 2027; two aframax 114,200 dwt methanol dual-fuel tankers and two 109,900 dwt LR2 methanol-fuel tankers at COSCO Shipping Heavy Industry (Yangzhou) that will be delivered in 2028.

The most recent investment will improve the age structure of its tanker fleet and boost the competitive advantages of domestic and international trade oil transportation, according to COSCO Shipping Energy Transportation, which stated that investing in new vessels is a significant initiative for the group to promote a green and low-carbon fleet.

In order to acquire money for eleven new buildings, including VLCCs, LNG carriers, and crude oil tankers, COSCO Shipping Energy Transportation announced earlier in January that it would be issuing shares. As of the end of 2024, COSCO Shipping Energy Transportation had 159 tankers in its fleet.