Newbuilding Surge: COSCO, Erasmus and Precious Shipping Drive Fresh Orderbook Expansion

## Newbuilding Surge: COSCO, Erasmus and Precious Shipping Drive Fresh Orderbook Expansion A wave of newbuilding commitments across multiple vessel segments this week highlights the continued appetite among shipowners to lock in tonnage capacity well into the next decade, with Chinese yards emerging as the primary beneficiaries of fresh ordering activity. ### COSCO Doubles Down on Heavylift Expansion COSCO Shipping Specialized Carriers is pressing ahead with one of the most ambitious fleet build-outs in the heavylift sector, adding 14 more 60,000 dwt multipurpose heavylift vessels to its orderbook through a combination of owned newbuildings and long-term bareboat charters, according to Splash247. The Shanghai-listed unit of COSCO Shipping Group has approved eight vessels at COSCO-affiliated yards, with the remaining units secured via charter arrangements. The move signals the state-backed group's determination to capture a larger share of the growing project cargo and energy infrastructure transport market, where demand for specialised heavylift tonnage has been buoyed by offshore wind installation programmes and large-scale industrial project activity globally. ### Erasmus Extends CSSC Huangpu Wenchong Partnership Athens-based Erasmus Shipinvest has returned to CSSC Huangpu Wenchong for a further pair of 1,900 teu containerships, bringing its firm programme with the Guangzhou-based builder to eight vessels in total, Splash247 reports. The contract, signed this week alongside China Shipbuilding Trading, reflects the continued confidence of Greek owners in Chinese yards for feeder and regional containership tonnage. The John Su-led owner's sustained commitment to a single builder is indicative of a broader trend in which repeat orders are being used to secure yard slots and manage construction risk in a tightening newbuilding market. ### Precious Shipping Bets $141.8m on Ultramax Quartet Thai dry bulk operator Precious Shipping has placed a $141.8 million order for four Ultramax bulk carriers at Taizhou Sanfu, according to Seatrade Maritime. The vessels are scheduled for delivery between 2030 and 2031, reflecting the extended lead times now common across Chinese shipyards as orderbooks remain heavily loaded. The investment underscores Precious Shipping's long-term bullish outlook on the dry bulk market, with Ultramax vessels — typically in the 60,000–65,000 dwt range — well suited to a broad range of commodity trades including grain, coal and minor bulks. ### Market Context Taken together, these orders reflect a shipbuilding market in which owners across multiple segments are willing to commit capital years in advance to secure future capacity. Chinese yards continue to dominate order intake, benefiting from competitive pricing, established relationships with major owners, and significant state-backed financing support. With global fleet renewal pressures mounting alongside evolving emissions regulations, analysts expect orderbook activity to remain elevated through the remainder of 2026.