Cosco Shipping Places Record $7 Billion Order for Greener Ships
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China Cosco Shipping Group has placed a record-breaking domestic order for 87 new vessels from China State Shipbuilding Corp. (CSSC) in a deal valued at over 50 billion yuan ($7 billion), as the maritime giant races to modernize its fleet and cement its global position.
The deal, announced Monday, includes around 47 billion yuan in cross-border yuan settlement, and marks a major investment in larger, more environmentally friendly, and technologically advanced vessels. Cosco Shipping said the initiative will help optimize its fleet structure and support global supply chain stability as the maritime sector undergoes rapid transformation.
The agreement concludes a year of aggressive expansion for the state-owned shipping giant, particularly in the bulk carrier segment. From January through October, Cosco Shipping placed orders for 25 Capesize bulk carriers to support the Simandou iron ore project in Guinea, West Africa, at a cost of about 13 billion yuan. In October, its listed unit, Cosco Shipping Development Co. Ltd., added orders for 23 bulk carriers and six ultra-large oil tankers worth approximately 12.4 billion yuan.
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- COSCO Shipping ordered 87 new vessels from CSSC for over 50 billion yuan ($7 billion), aiming to modernize and expand its fleet.
- By early October 2024, COSCO operated 541 container ships with 3.5 million TEU, ranking fourth globally, and targets over 4 million TEU capacity soon.
- The surge in orders boosted CSSC’s revenue to 107.4 billion yuan and net profit to 5.85 billion yuan in the first three quarters of 2025.
- China COSCO Shipping Group
- China COSCO Shipping Group is a state-owned maritime giant making significant investments to modernize its fleet and strengthen its global position. They recently placed a record-breaking domestic order for 87 new vessels valued at over 50 billion yuan, intending to optimize their fleet structure and support global supply chain stability. With aggressive expansion, COSCO aims to exceed 4 million TEU in total fleet capacity soon.
- China State Shipbuilding Corp.
- China State Shipbuilding Corp. (CSSC) is a major shipbuilding company that received a record-breaking domestic order for 87 new vessels from China COSCO Shipping Group. This deal, valued at over 50 billion yuan, highlights CSSC's role in supplying technologically advanced and environmentally friendly vessels. CSSC's main listed arm, China CSSC Holdings Ltd., reported significant revenue and profit growth in the first three quarters of 2025.
- COSCO Shipping Development Co. Ltd.
- In October, **COSCO Shipping Development Co. Ltd.**, a listed unit of China COSCO Shipping Group, placed orders for 23 bulk carriers and six ultra-large oil tankers. This investment amounted to approximately 12.4 billion yuan. This move contributed to COSCO Shipping Group's overall strategy of modernizing its fleet and expanding its capacity.
- MSC Mediterranean Shipping Co.
- MSC Mediterranean Shipping Co. (地中海航运公司) is actively expanding its fleet by adding more vessels, which has allowed it to widen its lead over A.P. Moller-Maersk A/S, the second-ranked company in global container shipping. This continuous growth highlights the intense competition within the industry.
- A.P. Moller-Maersk A/S
- A.P. Moller-Maersk A/S is mentioned as being second-ranked globally in container shipping capacity. MSC Mediterranean Shipping Co. is currently widening its lead over Maersk by adding more vessels, intensifying competition in the global container shipping industry.
- CMA CGM S.A.
- CMA CGM S.A. (法国达飞海运集团) is competing in the global container shipping market. They are rapidly expanding their fleet and are currently ranked third in the world in terms of capacity. They are one of the key players aggressively growing their presence alongside COSCO Shipping Group.
- Hapag-Lloyd AG
- Hapag-Lloyd AG, a German shipping company, is currently behind COSCO in terms of capacity. It has expressed interest in acquiring Israel's ZIM Integrated Shipping Services Ltd. for $2.4 billion, a move that would bring its capacity closer to COSCO's and intensify competition in the global container shipping market.
- ZIM Integrated Shipping Services Ltd.
- ZIM Integrated Shipping Services Ltd. is an Israeli shipping company that Hapag-Lloyd AG is reportedly interested in acquiring for $2.4 billion. If this acquisition is completed, it would increase Hapag-Lloyd's capacity, potentially bringing it closer to COSCO's fleet size.
- China CSSC Holdings Ltd
- China CSSC Holdings Ltd (中国船舶工业股份有限公司) is the main listed arm of China State Shipbuilding Corp. It experienced significant growth in the first three quarters of 2025, with revenue reaching 107.4 billion yuan, an 18% increase year-on-year. Its net profit more than doubled to 5.85 billion yuan.
- 2025：
- Hapag-Lloyd may acquire Israel’s ZIM Integrated Shipping Services Ltd. for $2.4 billion, potentially increasing its capacity closer to COSCO's.
- First three quarters of 2025：
- China CSSC Holdings Ltd posts 107.4 billion yuan in revenue and 5.85 billion yuan in net profit.
- From January 2025 through October 2025：
- COSCO places orders for 25 Capesize bulk carriers to support the Simandou iron ore project.
- By early October 2025：
- COSCO operates 541 container ships with nearly 3.5 million TEU in total capacity, ranking fourth globally.
- October 2025：
- COSCO Shipping Development Co. Ltd. orders 23 bulk carriers and six ultra-large oil tankers worth approximately 12.4 billion yuan.
- Before December 2025：
- COSCO had 51 container ships on order with a combined capacity of more than 910,000 TEU, according to its semiannual report for 2025.
- December 8, 2025：
- COSCO announces a record-breaking order of 87 new vessels from CSSC valued at over 50 billion yuan.
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