Having been hit by financial crisis, the global shipping and shipbuilding market mired in depression since late 2008. The price of newbuilding slumped at the level of 2004.

During crisis, COSCO seemed to be silent but recently the company invested CNY3.3bn ($490m) to build 18-unit MPPs and heavy lifters. It was called 'Low cost expansion'.

During 2007 to 2008, the shipping industry entered booming time while shipbuilding price also reached historical peak. Lots of shipping companies ordered huge number of ships at that time. However, COSCO chosen to order ships at bottom point and lower price.

COSCO put forward 'One billion (CNY) shipbuilding plan'. If the plan was carried out during booming time, the money was just enough to build over 40-unit ships but now it was abundant for 50 ships. Obviously, a lot of costs were saved.

In March of this year, COSCO ordered ten-unit 27,000dwt heavy lifters from domestic yards, at $26.79m per unit. The peak level was $32m in the past. That meant 20% cost was saved!

As China's investments on developing countries were raised, COSO's specialized ship fleet would play more important roles in future.