According to the Zhitong Finance App, COSCO Haifa (02866) announced that on November 11, 2026, the Group (as the buyer) and China Shipbuilding Group (as the seller) signed the third Chinese shipbuilding contract in 2026 to build 16 307,000 DWT class VLCCs. The total contract price is approximately RMB 13.425 billion (excluding taxes and fees).
On the same day, the Group (as owner/lessor) entered into a 2026 VLCC lease agreement with Universal Shipping (as a lessee). According to this, the Group agreed to provide ship leasing services to Universal Shipping for a total of 16 307,000 DWT VLCCs to be built under the third Chinese shipbuilding contract in 2026. The lease period is 240 months ± 90 days, calculated from the delivery date of each ship.
The company will focus on the main line of the shipping logistics industry, focusing on container manufacturing, container leasing and shipping leasing as the core business, supported by investment management, to achieve integrated development of industry and finance, and build a world-class shipping industry and finance operator with the characteristics of COSCO SHIPPING.
The proposed transactions under the third Chinese shipbuilding contract in 2026, and the Group's subsequent leasing of such ships to Global Shipping under the 2026 VLCC leasing agreement are all important parts of the overall operating leasing arrangement between the Group and COSCO Shipping Group (including COSCO Marine Group). The directors believe that these transactions will further expand the scale of the Group's ship leasing business, enhance the quality of its ship asset portfolio, strengthen the development foundation of its ship leasing business, and help bring stable long-term income and cash flow to the Group.
The company actively grasps the green and low-carbon development trend of the shipping industry, further implements the strategic development plans of the company's shipping industry and finance operators, and enhances value discovery and value creation capabilities. Through the 2026 third Chinese shipbuilding contract and the transaction under the 2026 VLCC leasing agreement, the company will further develop the cooperative advantages of industry and finance, enhance the scale and quality of the company's ship assets, enrich the types of ship assets, consolidate the foundation for the development of the company's ship leasing business, contribute to long-term stable revenue and cash flow, improve the company's overall financial soundness, and enhance the company's long-term development momentum. Post-construction operating leases under the 2026 VLCC lease agreement will use a rent structure combining “fixed rent and guaranteed share”, which can not only obtain profit space during the market cycle, but also lock in basic income during the market downturn, calm operating risks caused by cyclical fluctuations, and enhance the overall soundness and predictability of the project. In addition, the company collaborates with upstream and downstream enterprises in the shipping industry chain to further cultivate “manufacture, rent, and transport” RMB application scenarios, further deepen the practical application of RMB in the field of international shipping, and enhance its competitive strength in the market.