[COSCO Shipping Development: Plans to commission 16 VLCC crude oil tankers for 13.425 billion yuan and carry out leasing business] On November 11, COSCO Shipping Development (601866.SH) announced that the company’s board of directors reviewed and approved the proposal and agreed to the wholly-owned subsidiary Dalian Shipbuilding Industry was commissioned to build 16 307,000-ton VLCC crude oil tankers with a total contract cost of 13.425 billion yuan (excluding tax). The first ship is scheduled to be delivered in October 2029, and the rest will be delivered by the end of December 2030. At the same time, the company will lease all the above-mentioned ships to Universal Shipping, a subsidiary of COSCO Shipping Energy, on a long-term basis after delivery. The lease period is 240 months. It adopts a fixed rent and "guaranteed + share" model. The annual rent is expected to be no more than 320 million yuan. This matter still needs to be submitted to the shareholders' meeting for review.