COSCO, Guangzhou Salvage joint venture to create expanded semisubmersible fleet
July 27, 2023
Fleet will comprise eighteen heavy transport semisubmersible vessels by end of 2023.
Courtesy COSCO Shipping Heavy Transport
Offshore staff
GUANGZHOU, China, and HOUSTON – COSCO Shipping Specialized and Guangzhou Salvage say they have concluded a joint venture that will create a fleet of what will be 18 semisubmersible vessels by end of 2023.
Commercial management of the fleet will be handled by the joint venture and COSCO Shipping Heavy Transport exclusively with offices located in Guangzhou, China; Houston, Texas; and Rotterdam, The Netherlands.
The current fleet of COSCO Shipping Specialized’s vessels will stand at 13 vessels once delivery of the latest 65,000mt DWT new building is achieved end 2023.
The additional five vessels will come from Guangzhou Salvage and include the 80,000mt DWT m/v Hua Rui Long delivered in 2022.
The combined fleet will range in size from 20,000mt DWT to 98,000mt DWT and include two of the largest semisubmersible vessels in the world.
