On September 2, COSCO SHIPPING Holdings announced that ten wholly-owned subsidiary single ship companies of its holding subsidiary OOCL signed shipbuilding agreements with Nantong COSCO Khi Ship Engineering and Dalian COSCO Khi Ship Engineering on September 2, ordering a total of 10 container ships (with a single ship capacity of 16000 TEU) at a price of US $158 million each.
 
The total price of the above 10 ships is USD 1.576 billion (equivalent to about RMB 10.192 billion).
 
In terms of delivery time, the expected delivery time is between the fourth quarter of 2024 and the fourth quarter of 2025.
 
The company said that the transaction was in line with the 14th five year development plan of OOCL and its subsidiaries, including improving the fleet capacity of OOCL and its subsidiaries and consolidating the position of the first echelon in the industry.
 
Including this transaction, the group currently holds 32 new ship orders, of which 10 are held by COSCO SHIPPING Lines, a wholly-owned subsidiary, with a total capacity of 149,272TEU; OOCL, a holding subsidiary, holds 22 ships with a total capacity of 436,000TEU.
 
On the evening of August 30, COSCO SHIPPING Holdings disclosed its semi annual report. In the first half of the year, the company achieved an operating revenue of 139.26 billion yuan and a net profit of 37.1 billion yuan, with a year-on-year growth rate of 88.06% and 3162.31% respectively.
 
This year, with the delivery of large container ships ordered by CMA CGM, COSCO SHIPPING has become the third largest container shipping company in the world.
 
According to Alphaliner's data, at present, the total capacity of CMA CGM's ships is 3,011,054TEU, while the capacity of COSCO SHIPPING (including COSCO SHIPPING Lines and OOCL) is 2,975,993.
 
Alphaliner's data shows that if the order capacity is included, the current capacity of CMA CGM is 3,539,186TEU, while that of COSCO SHIPPING is 3,401,256TEU, with a difference of 137,921TEU.
 
This means that after adding 10 16000 TEU orders, the total capacity of COSCO SHIPPING will exceed that of CMA CGM to return to the top three in the world.
 
Source: Sarah Yu, XINDE MARINE NEWS

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