COSCO Shipping Holdings orders 12 18,000-TEU LNG dual-fuel ships from Jiangnan Shipyard

COSCO Shipping Holdings said on Jan. 13, 2026 its wholly owned subsidiary COSCO Asset Management signed 12 shipbuilding contracts to build a dozen 18,000-TEU container vessels equipped with LNG dual-fuel engines, according to COSCO Shipping Holdings voluntary announcement filed on Shanghai Stock Exchange and HKEX.

The company disclosed a contract price of RMB 1.399 billion per vessel ($200.5 million), taking the total transaction value to RMB 16.788 billion ($2.41 billion), with deliveries expected between 2028 and 2029, subject to delay provisions in each contract.COSCO Asset Management is the buyer under the agreements, with Jiangnan Shipyard (Group) Co., Ltd. and China Shipbuilding Trading Co., Ltd. named as sellers COSCO Shipping Holdings said the contracts will be settled in renminbi and paid in six instalments tied to construction milestones: the first five tranches total 50% of the price, with the final tranche covering the remaining 50%. 

The disclosure sets out liquidated damages mechanisms: for delivery delays, compensation would be deducted from the final payment tranche, with a per-ship cap of about RMB 58.68 million ($8.41 million); for failure to meet technical specifications—examples cited include speed, fuel consumption, deadweight, or container capacity—compensation would similarly be deducted from the final tranche, with a per-ship cap of about RMB 51.05 million ($7.32 million). 

On funding, the company said it expects to arrange up to 60% of each vessel’s consideration via external debt financing and/or bank borrowings before delivery, with the balance funded by internal resources; if financing cannot be arranged, it said internal resources are expected to be sufficient to cover the full amount.

The company said the 12 newbuildings are intended for east–west mainline trades after delivery and framed the order as supporting its strategy and its adoption of “green fuel technology” through LNG dual-fuel engines.

COSCO Shipping Holdings Co., Ltd. is a joint stock limited company incorporated in the People’s Republic of China with limited liability. Jiangnan Shipyard (Group) Co., Ltd. is a Shanghai-based shipyard operated as a subsidiary under China State Shipbuilding Corporation, with origins dating to 1865.

Source : portnews