Cosco is nearing a $2 billion deal for up to 12 LNG dual-fuel container vessels, enhancing its commitment to sustainable shipping.
China's state-run shipping group Cosco is close to finalising a major order for up to 12 LNG dual-fuel container vessels worth more than US$2 billion, reports Singapore's Splash 247.
Market sources indicate that Cosco is in advanced talks with CSSC's Hudong-Zhonghua Shipbuilding for a series of 14,000-TEU neo-panamax ships. Pricing is understood to be between US$170 million and US$190 million per vessel, bringing the overall contract value to approximately US$2 billion to US$2.3 billion.
The newbuilds are expected to be deployed by Orient Overseas Container Line (OOCL), Cosco's Hong Kong-based liner arm. While no delivery schedule has been disclosed, this deal would expand Cosco's already substantial order book and deepen its commitment to LNG as a marine fuel.
Earlier this year, Cosco booked around US$2.7 billion of new tonnage, which includes 12 LNG dual-fuel 18,000 TEU vessels at Jiangnan Shipyard and six smaller conventionally fuelled ships at Cosco Zhoushan. The group has also pursued methanol-capable designs, with OOCL ordering 14 methanol dual-fuel 18,500-TEU ships in 2025 at DACKS and NACKS.
OOCL has added chartered tonnage, signing for six 13,000-TEU ships from Seaspan, with deliveries scheduled from late 2026 through early 2028. If confirmed, the Hudong order would further elevate Cosco's newbuilding pipeline. Including OOCL, the group ranks as the world's fourth-largest liner operator, boasting a fleet of approximately 555 vessels and a capacity of 3.6 million TEU.
Fleet data indicate that Cosco could have more than 120 ships on order, totalling over 1.4 million TEU, if the latest deal proceeds.
