COSCO SHIPPING Energy Transportation (600026.SH) subsidiary plans to invest in the construction of 4 VLCC crude oil tankers.

COSCO SHIPPING Energy Transportation (600026.SH) announced that on November 9, 2026, its wholly-owned subsidiary Hainan Haineng (as buyer) signed construction contracts with Dalian Shipbuilding Heavy Industry (as seller) for 4 VLCC crude oil tankers, with a total contract price (tax inclusive) of RMB3.793 billion. The 4 VLCC crude oil tankers are expected to be delivered and put into operation in 2029-2030, which will effectively supplement the group's capacity, enhance the overall competitiveness of the fleet, consolidate and expand the company's market share in foreign trade crude oil transportation, and strengthen customer service capabilities and operational resilience, thereby having a positive impact on the company's long-term operating revenue and profitability.