COSCO Marine Energy (01138) and Yangzhou COSCO SHIPPING Heavy Industries signed a shipbuilding contract for the construction of six oversized tankers with a total price of about 5.689 billion yuan

According to the Zhitong Finance App, COSCO Haineng (01138) announced that on November 9, 2026, Hainan Haineng, a wholly-owned subsidiary of the company, signed a shipbuilding contract with Yangzhou COSCO SHIPPING Heavy Industries to build six oversized tankers, with a total cost of about RMB 5.689 billion.

The ships are six LNG dual-fuel (reserved) oversized tankers, each with a maximum load capacity of 309,000 dwt in terms of structural draught.

In order to further enhance the resilience and safety and security capabilities of the energy supply chain and optimize the company's fleet structure and market competitiveness, the Group plans to invest and build clean fuel vessels. The shipbuilding contract is based on the following comprehensive considerations:

1. Seize market opportunities and serve energy transportation needs. In line with the growing trend of global crude oil transportation demand, we enhance the company's profitability and core competitiveness by supplementing the scarce capacity of oversized tankers, expanding the fleet size, seizing market opportunities, enhancing the Group's service capacity and market share in the foreign trade crude oil transportation market.

2. Optimize the fleet structure and enhance operational competitiveness. By adding ship capacity, optimizing the age structure of the Group's foreign trade tanker fleet, improving the level of fleet intelligence and greening, enhancing the operating efficiency of the Group's fleet, consolidating market share, consolidating sustainable profitability, and laying a solid foundation for enhancing the company's overall competitiveness and economic efficiency.

3. Implement green shipping and promote low-carbon transformation. Newly built ships use clean power systems such as LNG dual-fuel READY, and are equipped with energy-saving and intelligent devices to respond positively to global shipping carbon reduction trends, conform to the company's sustainable development strategy, and enhance the competitiveness of ships throughout the life cycle.

This new ship construction is an important step for the Group to implement fleet development plans, seize market development opportunities, and implement green and low-carbon development. With the delivery of new ships, the Group will effectively supplement the capacity of very large tankers, enhance service capabilities and competitiveness in the oil transportation market, and meet the company's long-term development strategy and the interests of all shareholders. According to the Group's internal estimates, the construction of the six oversized tankers this time has a good return on investment, which will help enhance the company's resilience to risks.