COSCO Shipping Energy Orders Two Panamax Tankers for a Total of 1.018 Billion Yuan

en.Wedoany.com Reported - COSCO Shipping Energy Transportation Co., Ltd. plans to sign a shipbuilding agreement with COSCO Shipping Qidong Marine Engineering Co., Ltd. to construct two Panamax crude oil tankers. The total contract value is 1.018 billion RMB.

Both tankers have a deadweight tonnage of 74,900 tons. The purchaser is Hainan COSCO Shipping Energy, a wholly-owned subsidiary of COSCO Shipping Energy. The funding will utilize a mixed financing approach, with 80% sourced from external channels and 20% covered by the company's internal resources.

The delivery schedule indicates that the first tanker is planned for completion by October 31, 2028, and the second is scheduled to be built by November 30, 2028. Both tankers will be equipped with a power system compatible with biofuels or methanol.

COSCO Shipping Energy evaluated the technical capabilities and delivery schedules of multiple shipyards during the selection process. Qidong Marine Engineering was ultimately chosen based on its construction experience and payment terms.

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