Cosco Shipping Specialized Carriers is building four new 9 000 dwt liquid cargo carriers at Mawei Shipyard in Fujian province, China, to optimise its asphalt carrier fleet.
The vessels, which are estimated to cost around USD98 million, are expected to be delivered in October 2025 and August 2026.
Asphalt carriers built before 2005 have been pushed out of the market in recent years as a result of the global drive to reduce greenhouse gas emissions and a move by oil companies to improve standards.
According to Cosco Specialized Shipping Carriers, there are only twenty-one 7 000-9 000 dwt vessels less than 10 years old currently operating in the global market.
“The asphalt transportation market is now facing the situation of overall ageing and capacity shortage, especially in the high-end market, and the long-distance transport capacity supply also falls short of demand,” the company said.
Cosco Shipping Specialized Carriers has planned the build of its four new vessels to take advantage of this opportunity to meet some of the global demand in this sector.
