China’s COSCO Shipping Specialized Carriers has placed an order for four 9,000-ton asphalt carriers at Mawei Shipyard, a unit of Fujian Shipbuilding.
The order, valued at approximately $98 million, was made through COSCO Shipping Investment Development, a wholly-owned subsidiary based in Hong Kong. Each ship costs about $24.5 million, with delivery scheduled between October 2025 and August 2026. The project is projected to have an internal rate of return of around 7.2% and a payback period of 11.8 years.
COSCO Shipping noted that older asphalt carriers, built before 2005, are being phased out due to global green and low-carbon regulations. Currently, only 21 vessels in the 7,000-9,000-ton range are under 10 years old, representing about 7% of the market.
In addition to this order, COSCO plans to develop a fleet of asphalt carriers with capacities of 7,500, 9,000, and 13,000 tons to enhance its competitiveness in the future market.
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