Wedoany.com Report-May 29, COSCO Shipping Energy Transportation (CSET), a key player in oil and gas shipping under the COSCO Shipping Group, has expanded its fleet by ordering a new 9,200 dwt stainless steel chemical carrier. The contract, valued at approximately $25 million, was approved by CSET’s board and awarded to Wuchang Shipbuilding for construction. This addition aims to enhance the company’s chemical fleet structure and boost overall profitability.

The new chemical carrier will join CSET’s diverse fleet, which currently includes over 150 crude and product tankers, stakes in nearly 90 LNG carriers, more than 10 LPG units, and now 10 chemical tankers, including two other newbuildings. The strategic move supports CSET’s efforts to optimize its fleet composition and strengthen its position in the chemical shipping market.

“The construction of this new chemical carrier aligns with our goal to refine our fleet and improve business efficiency,” said a CSET spokesperson. “This investment enhances our capacity to meet market demands and supports long-term growth.”

Wuchang Shipbuilding, located in China, will build the vessel to meet modern standards, ensuring reliability and efficiency in chemical transportation. The addition of the 9,200 dwt carrier is expected to improve CSET’s ability to serve global markets, catering to the increasing demand for specialized chemical transport solutions.

Earlier in 2025, CSET announced a $380 million investment plan to further expand its fleet with two aframax tankers, two LR2 tankers, and two panamax tankers. These investments reflect the company’s commitment to diversifying its operations and enhancing its competitive edge in the global shipping industry.

“This newbuilding is a step toward optimizing our fleet’s structure and strengthening our market presence,” said a company representative. “It positions us to better serve our clients and adapt to evolving industry needs.”

The chemical carrier order aligns with CSET’s broader strategy to modernize its fleet and improve operational efficiency. By investing in specialized vessels, the company aims to meet the growing global demand for chemical transportation while maintaining high standards of safety and reliability. The new vessel is expected to contribute to CSET’s profitability by expanding its capacity to handle diverse cargo types.

With its extensive fleet and strategic investments, CSET continues to play a significant role in global maritime logistics. The addition of the new chemical carrier underscores the company’s focus on sustainable growth and its ability to adapt to market trends, reinforcing its position as a leader in energy and chemical shipping.