COSCO launches $1.75 billion green fleet expansion with 29 new vessels

COSCO Shipping has announced a landmark $1.75 billion shipbuilding program—one of its largest fleet renewal efforts to date—signalling a decisive step toward a cleaner and more energy-efficient future for global shipping.

The initiative covers the construction of 29 next-generation vessels, scheduled for delivery between April 2027 and late 2028, marking a major stride in the company’s long-term decarbonization and modernization strategy.

In an industry navigating volatile markets and tightening environmental regulations, COSCO’s bold investment underscores confidence in sustainable shipping as both a business imperative and a competitive advantage.

According to company filings and industry sources, the newbuild program is designed to align with emerging international emissions standards and to position COSCO at the forefront of the green transition sweeping through global trade. The vessels will feature cutting-edge designs to improve fuel efficiency and reduce emissions, with several configured for alternative fuels such as methanol and ammonia.

The move builds on recent milestones, including COSCO’s successful conversion of the COSCO Shipping Libra—a 20,000 TEU containership—into a methanol-fueled vessel. The project, hailed as a world first, demonstrated the feasibility of retrofitting large boxships for low-carbon operations, combining innovation with practical implementation.

Together, these retrofits and newbuilds form a dual-track strategy: revitalize existing assets while building the ships of the future.

COSCO’s 2025 expansion push extends beyond container vessels. The group has also placed orders for Newcastlemax bulk carriers, asphalt tankers, VLCCs, and LNG carriers, many of which are equipped with dual-fuel or alternative propulsion systems. This diversified orderbook reflects not just fleet growth, but a deliberate focus on technological transformation.

The ripple effects are expected to reach shipyards, suppliers, and chartering markets across Asia and beyond—further cementing China’s leadership in both commercial tonnage and green maritime innovation.

The initiative also dovetails with China’s broader sustainability agenda, as the government accelerates efforts to decarbonize heavy industries, including shipping.

In today’s maritime economy, carriers are increasingly measured not only by capacity, but by their environmental credibility. COSCO’s billion-dollar commitment stands as both a strategic investment and a compliance-ready response to the industry’s changing rules of engagement.

Ultimately, this is more than a fleet upgrade—it’s a glimpse of where global shipping is headed: a future where investing in green technology isn’t optional, but essential for long-term relevance and profitability.