Chinese containership company, Cosco Shipping Holdings, has ordered twelve methanol dual-fuel 24,000teu containerships valued at nearly $2.9bn.
The order was split across its container shipping units, Orient Overseas Container Line (OOCL) and Cosco Shipping Lines, for seven and five ships, at $239.85m each.
Nantong Cosco KHI Ship Engineering and Dalian Cosco KHI Ship Engineering Cosco’s joint ventures for shipbuilding in partnership with Japan’s Kawasaki Heavy Industries will construct the vessels to be delivered in the 30th of the year 2026 to the third quarter of 2028.
Cosco Shipping, which is listed in both Shanghai and Hong Kong, is the third largest carrier to bet on methanol-fueled vessels. Denmark’s A.P. Moller-Maersk kicked things off last year with 16,000 teu units in South Korea, and France’s CMA CGM followed suit in June this year with 15,000 teu ships in China. Meanwhile, Mediterranean Shipping Co (MSC), the world’s largest liner, has a large order book of LNG dual-fuelled boxships.