COSCO Shipping Holdings has signed contracts worth more than $2.9 billion for 18 container vessels, one of the largest single newbuilding commitments in the sector this year, with the biggest tranche aimed squarely at the Far East–Northwest Europe trade.

The contracts, signed in September 2026 through subsidiary COSCO Asset Management, split into two packages. Shanghai Waigaoqiao Shipbuilding and China Shipbuilding Trading will build 12 LNG dual-fuel container ships of 22,000 TEU each, priced at $224 million per vessel — a total of $2.688 billion. Deliveries run from 2028 to 2030, and the ships are expected to serve COSCO's long-haul routes, including services between the Far East and Northwest Europe, where ultra-large vessels form the backbone of the group's intercontinental network.

A second contract covers six 3,200 TEU feeder vessels from CSSC Huangpu Wenchong Shipbuilding and China Shipbuilding Trading, valued at CNY 2.039 billion, roughly $302 million. These ships arrive between 2028 and 2029 and will support regional feeder operations around COSCO's major hub ports, tightening cargo distribution across the network.

For shippers on Asia–Europe lanes, the order signals continued reliance on ultra-large tonnage as the core economics of that trade — a bet that scale and dual-fuel efficiency will keep unit costs down through the next fleet cycle. For competitors, it extends the capacity lead of a carrier already ranked among the top three global operators by TEU. Forwarders managing intra-Asia and hub-to-hub flows should note the feeder tranche: six modern 3,200 TEU units will shift regional distribution capacity from 2028.

The financing structure keeps leverage contained. COSCO stated that up to 70 per cent of each vessel's purchase price may be funded through external debt or bank loans, with the balance from internal resources. The company added that the chosen yards offered favourable delivery slots and technical capabilities aligned with its operational requirements, while pricing remained competitive with the lowest bids received during preliminary evaluations.

The order extends a fleet strategy that has shifted decisively toward LNG dual-fuel tonnage, reflecting China's broader push for cleaner maritime transport and compliance with tightening international emissions rules. COSCO Shipping Holdings, part of state-owned COSCO Shipping Group, has scaled rapidly since the 2016 merger of China Ocean Shipping Company and China Shipping Group, building operations across container shipping, logistics, terminals and ship management.

With the first of the 22,000 TEU units not arriving before 2028, the programme's rate impact is long-dated; what it locks in now is yard capacity at dual-fuel-ready Chinese builders and mainline slot growth on Europe-focused corridors into the next decade.