Cosco Shipping splashes out $2.88bn on 12 methanol-fuelled boxships

Orient Overseas International Limited (OOIL), a subsidiary of Cosco Shipping Holdings, and affiliated company of Cosco Shipping Lines, have entered into shipbuilding construction contracts with Cosco KHI Shipping Engineering’s yards in Dalian and Nantong at a cost of $240m per vessel.

The orders see Cosco Shipping join a growing number of owners that are opted for methanol as a green fuel to decarbonise operations. AP Moller – Maersk placed the pioneering order for methanol-fuelled very large containerships and has been followed CMA CGM, which has already made a strong commitment to LNG as an alternative fuel.

Learn more about methanol as a alternative fuel from a recent episode of the Seatrade Maritime Podcast

Nantong KHI Shipping Engineering will build seven vessels for OOIL which are due for delivery between the third quarter of 2026 and the third quarter of 2028.

Dalian KHI Shipping Engineering will build the other five vessels for affiliated company of Cosco Shipping Lines which are scheduled for delivery during February 2027 and June 2028.

“It is a new move of our group to promote clean energy application on our fleet. The new order for twelve super large containerships highlights multiple energy saving, emission reduction and intelligent vessel technologies, which will strength core competitiveness of our group,” said Cosco Shipping Holdings.