COSCO Shipping Specialized Carriers Plans to Build 8 60,000-Tonne-Class Heavy Lift Vessels for RMB 2.624 Billion

en.Wedoany.com Reported - On September 29, COSCO Shipping Specialized Carriers announced that the company plans to entrust, through its wholly-owned subsidiary COSCO Shipping (Hong Kong) Investment Development Co., Ltd. or its affiliated companies, Dalian COSCO Shipping Heavy Industry Co., Ltd., a subsidiary of COSCO Shipping Heavy Industry Co., Ltd., with the construction of 8 60,000-tonne-class multi-purpose heavy lift vessels, with a total ship price of no more than RMB 2.624 billion, excluding tax.

This batch of vessels will be used to supplement COSCO Shipping Specialized Carriers' multi-purpose heavy lift vessel capacity. Multi-purpose heavy lift vessels mainly serve the transportation of engineering project cargo such as mechanical equipment, wind power equipment, engineering vehicles, and steel structures. COSCO Shipping Specialized Carriers' existing related routes cover regions including the Far East to Europe, the Mediterranean, the Americas, Africa, as well as the Indian Ocean and the Pacific Ocean. The company has established a specialized transportation business system for multi-purpose vessels and heavy lift vessels.

According to COSCO Shipping Specialized Carriers' estimates, the internal rate of return of this 8-vessel investment project is approximately 6.64%, and the static investment payback period is approximately 12.51 years. After the project is completed, the company will further increase its 60,000-tonne-class multi-purpose heavy lift vessel capacity and adjust its existing specialized fleet structure.

The construction of these vessels will be undertaken by Dalian COSCO Shipping Heavy Industry. The transaction involves entities including COSCO Shipping Specialized Carriers, COSCO Shipping (Hong Kong) Investment Development Co., Ltd., and Dalian COSCO Shipping Heavy Industry. The specific investment and construction arrangements will proceed in accordance with the company's announcements and subsequent contracts.