COSCO SHIPPING Holdings announced that twelve indirect wholly-owned subsidiaries of its unit Orient Overseas (International) Ltd. (OOIL) signed shipbuilding contracts on 29 April 2026 with Hudong-Zhonghua Shipbuilding and China Shipbuilding Trading. The order covers twelve 13,600 TEU LNG dual-fuel container vessels at a total consideration of US$2.22 billion (approximately HK$17.32 billion), or US$185 million per vessel.

Payment will be made in five instalments, with heavier proportions in the first and final payments. Deliveries are scheduled from the third quarter of 2028 to the first quarter of 2030. Liquidated damages are capped at about US$7.20 million per vessel for delivery delays and about US$9.70 million per vessel for technical non-compliance, both deductible from the fifth instalment.

OOIL plans to secure external debt financing for up to 60 % of each vessel’s price, guaranteed by OOIL, with the balance funded by internal resources. If this financing split is achieved, current assets would decline by roughly US$888 million, non-current assets would rise by US$2.22 billion and total liabilities would increase by US$1.33 billion upon delivery.

Management cites the order as part of a strategy to prudently expand fleet capacity, enhance trade-lane flexibility and improve cost efficiency through larger average vessel size. The LNG dual-fuel configuration is expected to lower future carbon-compliance costs and align with customers’ low-carbon supply-chain goals.

Under Hong Kong Listing Rules, the contracts are aggregated as a discloseable transaction: the highest percentage ratio exceeds 5 % but remains below 25 %, triggering announcement and reporting requirements without the need for shareholder approval. The board considers the terms fair and reasonable, anticipating long-term earnings contributions once the vessels enter service.