COSCO’s next heavylift bet: Four 40,000 dwt MPP newbuilds locked in at Chengxi
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COSCO Shipping Specialized Carriers (SSE: 600428) is pushing further into the project-cargo and wind-energy logistics lane, approving four 40,000 dwt multi-purpose heavy-lift newbuilds at Chengxi. The order is priced at RMB 1.492 billion total, with deliveries slated from June 2028 through February 2029, and it is explicitly framed as capacity and vessel-mix positioning for larger, more complex wind moves.
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COSCO locks in four Chengxi newbuilds as wind-driven heavylift demand builds
COSCO Shipping Specialized Carriers is expanding its multi-purpose heavylift pipeline with an order for 440,000 dwt MPP vessels at CSSC Chengxi, reported at about RMB 1.492bn in total, with deliveries scheduled across mid-2028 into early 2029. The framing is straightforward: bigger wind components and steadier project schedules are pulling owners toward purpose-capable MPP tonnage, booked years in advance.
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Deal card (fast facts)
Four MPP heavylift newbuilds, China yard slots secured, and a delivery window that targets future project waves rather than today’s prompt market. -
Cargo lane signal
The wind sector angle matters because cargo units keep growing, and reliability plus cargo-fit can outweigh marginal cost differences when schedules are tight. -
Market ripple
More modern MPP supply arriving in the late 2020s can raise the competitive bar for older multipurpose ships, especially on high-spec moves where lift gear, deck layout, and execution track record decide tenders.
This order reads as a long-lead capacity positioning move: COSCO is reserving late-2020s heavylift availability to match wind and project cargo pipelines, while also nudging the market toward newer, more cargo-fit MPP tonnage over time.
Project-cargo capacity signal: COSCO expands its MPP/heavylift pipeline into 2028–2029
Deal picture, in one glance
Where the impact shows up
Charterers (wind OEMs, EPCs, forwarders) +
- More forward capacity can reduce “last-minute” vessel hunting for long-lead moves.
- Modern MPP/heavylift ships often support tighter cargo specs and faster port turns.
- Late delivery timing matters: it targets future project waves rather than today’s spot constraints.
Competing MPP/heavylift operators +
- Newbuilds can reset customer expectations on cargo-fit and reliability.
- Older vessels may need refits or sharper pricing to stay relevant on high-spec cargoes.
- Yard-slot competition can widen if more owners follow with similar orders.
Shipyards and equipment suppliers +
- Late-2020s slots being booked supports longer planning horizons for yards and makers.
- Heavylift capability tends to pull in specialized cranes, deck gear, and project cargo handling systems.
Visual read: what this order is “about”
Interactive: program economics (your assumptions)
COSCO Shipping Specialized Carriers’ board approved building four 40,000 dwt-class multi-purpose heavy-lift vessels at CSSC Chengxi for a total contract price of RMB 1.492 billion, with the first vessel due by June 2028 and the remainder delivered by end-February 2029; the disclosure also states an internal rate of return of about 6.76% and a static payback period of 11.8 years.
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