Cosco and Guangzhou Salvage form heavy lift semi-sub giant

Cosco Shipping Specialized Carriers and Guangzhou Salvage have formed a joint venture which will have a fleet of 18 semi-submersible vessels by the 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, Houston, and Rotterdam.

The current fleet of Cosco Shipping Specialized Carriers will stand at 13 vessels once delivery of the latest 65,000 dwt newbuild is completed near the end of 2023.

The additional five vessels will come from Guangzhou Salvage and include the 80,000 dwt Hua Rui Long delivered in 2022.

The combined fleet will range in size from 20,000 dwt to 98,000 dwt and will, according to Cosco, include two of the largest semi-submersible vessels in the world.

“Between the rapid growth of the offshore renewable energy market and continued development of traditional oil and gas projects, it was important that we grow the fleet quickly in order to meet our client’s needs. We are confident that this combined fleet will allow us to offer the right vessels for every project,” said Josh Wilson, VP of commercial at Cosco Shipping Heavy Transport.

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