The fund will be used to lease 29 multi-purpose pulp carriers, including twelve 62,000 tonne, twelve 70,000 tonne and five 68,000 tonne multi-purpose vessels, and build one 65,000 tonne semi-submersible vessel.

“Driven by China’s equipment export and global new energy development, demands of multi-purpose vessels and heavy-lift vessels are staying at a high level. The energy transformation opportunity brought by carbon neutral is promoting the development of offshore wind power sector as well as oil & gas exploitation, the demands of semi-submersible vessel will further increase,” said Cosco Shipping Specialized Carriers. 

The company has inked a number of long-term contracts with Metsafibre and other international pulp companies which will increase the scale of its businesse and expand the market share. Meanwhile, the semi-submersible fleet of the company has been deployed on large-size projects which is expected to obtain stable profits.

As the end of 2022, Cosco Shipping Specialized Carriers and its subsidiaries owned and operated a fleet of 107 vessels.