The order, placed through its Hong Kong-based subsidiary COSCO Shipping Investment Development, is focused on enhancing the company's asphalt transport capabilities.
The total investment for the four vessels amounts to approximately $98 million, with each ship priced at about $24.5 million. Delivery of the vessels is scheduled between October 2025 and August 2026. The company projects an internal rate of return of around 7.2% and an investment payback period of 11.8 years.
COSCO noted that asphalt carriers built before 2005 are being phased out due to global green and low-carbon requirements. Currently, there are only 21 vessels in the 7,000-9,000 tonne range that are under 10 years old, representing roughly 7% of the market. The company plans to expand its asphalt fleet with vessels of 7,500, 9,000, and 13,000 tonnes to boost future market competitiveness.