According to TradeWinds, COSCO Shipping Holdings Co., Ltd. (hereinafter referred to as "COSCO Shipping Holdings") is nearing the finalization of an order exceeding $2 billion for up to 12 LNG dual-fuel container ships. Industry experts suggest that these newbuilds are likely to be deployed under the operation of Orient Overseas Container Line (OOCL). As of now, COSCO Shipping Holdings has not released an official announcement regarding the matter.

Shipbrokers have indicated that the order includes 12 neo-panamax LNG dual-fuel container vessels, each with a capacity of 14,000 TEU. The ships are expected to be built by Hudong-Zhonghua Shipbuilding (Group) Co., Ltd., a subsidiary of China State Shipbuilding Corporation (CSSC), with individual vessel prices estimated between $170 million and $190 million.

Notably, OOCL has primarily secured capacity through chartered vessels in recent years. In October 2024, OOCL entered into a charter agreement with Seaspan Corporation for six 13,000 TEU newbuild container vessels, with a total value of up to $1.6 billion for a 15-year charter period. These vessels are scheduled for delivery between the fourth quarter of 2026 and the first quarter of 2028.

Meanwhile, OOCL still has methanol dual-fuel vessels under construction: 24,000 TEU methanol dual-fuel container ships being built by NACKS are expected to be delivered between the third quarter of 2026 and the third quarter of 2028.

This order for 12 new vessels represents a key initiative by COSCO Shipping Holdings to advance the green and intelligent upgrade of its fleet. Previously, in January 2026, COSCO Shipping Holdings, through its wholly-owned subsidiary COSCO Asset Management Co., Ltd., signed a contract with Jiangnan Shipyard (Group) Co., Ltd. and China Shipbuilding Trading Co., Ltd. for the construction of twelve 18,000 TEU LNG dual-fuel container ships, with each vessel priced at RMB 1.399 billion, bringing the total transaction value to RMB 16.788 billion. These vessels are scheduled for delivery between 2028 and 2029.

Previously, COSCO Shipping Holdings has also established a presence in the methanol fuel sector. It is understood that recently, COSCO Shipping Holdings completed the conversion of four large methanol dual-fuel container vessels at COSCO Shipping Heavy Industry (Shanghai), covering two 20,000 TEU and two 13,800 TEU vessels. This project marked the first large-scale container ship retrofit in China to simultaneously convert both main and auxiliary engines to methanol dual-fuel operation, successfully establishing a replicable and scalable conversion system.