COSCO has unveiled a sweeping $1.75bn newbuilding programme covering 29 ships， as the state-controlled group continues to refresh and expand its fleet across key sectors.

The investment package includes 23 kamsarmax bulk carriers and six very large crude carriers (VLCCs)， all to be built at domestic shipyards and scheduled for delivery between 2027 and 2028.

According to filings by COSCO Shipping Development， the financing arm of China’s state-controlled shipping giant， COSCO Shipping Heavy Industry (Dalian) will build the 87，000 dwt bulkers under contracts worth around RMB7.34bn ($1.03bn)， while Dalian Shipbuilding Industry Corp (DSIC) will handle the six 307，000 dwt VLCCs valued at RMB5.09bn ($715m).

The bulkers will be placed on 20-year bareboat charters with COSCO Shipping Bulk， while the methanol- and LNG-ready VLCCs will enter long-term leases with COSCO Shipping Energy Transportation. Deliveries will begin in April 2027 and run through late 2028.

COSCO said the newbuilds reflect its strategy to modernise and decarbonise its fleet through dual-fuel designs and long-term operating structures within the group.

The move follows a series of orders earlier this year， including 10 newcastlemax bulkers and four asphalt carriers. Those projects are being executed at CSSC Qingdao Beihai， COSCO Zhoushan， and CSSC Huangpu Wenchong， with similar long-term charters arranged under various COSCO subsidiaries.

The latest package builds on COSCO’s broader expansion strategy announced last year， with multiple types of newbuilds already booked for construction across several Chinese shipyards， including a series of newcastlemaxes and kamsarmaxes， as well as one for up to 30 ships in the multipurpose segment.