Cosco Shipping Specialised Carriers’ insatiable appetite for fresh steel is keeping the company busy in the shipbuilding market.

The organisation, which has been involved in orders for 24 pure car/truck carrier newbuildings in China to date, is said to be splashing out $1bn on 20 large wood-pulp carriers that will be powered on very low-sulphur fuel oil.

Shipbuilding sources said Cosco Shipping has split the 85,000-dwt newbuildings between three domestic yards.