COSCO Shipping Specialized and Guangzhou Salvage have joined forces to form the world’s largest semi-submersible heavy lift player on the market. The two companies will handle the commercial management of the fleet through their offices in Guangzhou, China, Houston, U.S.A. and Rotterdam, The Netherlands.

The joint venture news were unveiled by United Heavy Transport (UHT) that previously handled the commercial management of Guangzhou Salvage’s semi-submersible heavy lift vessels. The company unveiled it will no longer be the commercial manager, however, the cooperation will continue in a different form.

The joint venture will have a fleet of 18 semi-submersible vessels under its management by the end of 2023. Currently, COSCO Shipping Specialized has a fleet of 12 submersible vessels with the 13th vessel, a 65,000-dwt newbuilding, set for delivery before the end of 2023.

Five more 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 include two of the largest semi-submersible vessels in the world.

“We are very excited to have a larger and wider range of modern semi-submersible vessels to offer our clients. Between the rapid growth 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 clients needs. We are confident that this combined fleet will allow us to offer the right vessels for every project.” says Josh Wilson, VP – Commercial, COSCO Shipping Specialized.