On October 9, Ningbo Ocean Shipping Co., Ltd (Ningbo Ocean Shipping) released the Announcement on the Newbuilding of Four 64,000 DWT Bulk Carriers.
The announcement disclosed that Ningbo Ocean Shipping proposed to build up to 4 new 64,000 DWT bulk carriers including two options for vessels of the same type. And the total investment of the project is expected to be not more than RMB 1.165 billion ( about US$ 165 million).
The first vessel is expected to be delivered in the second half of 2027, with the subsequent vessel deliveries to be subject to the specifics of the vessel construction contracts to be signed. The project will focus on international bulk cargo transportation as well as domestic coastal transportation.
According to the announcement, this project can optimize the fleet structure of Ningbo Ocean Shipping, enhance the proportion of international capacity of the company’s vessels, and also meet the requirements of energy saving and emission reduction.
According to the half-yearly report of Ningbo Ocean Shipping, the company is mainly engaged in the transportation of general cargo ships and product oil tankers along the domestic coast and in the middle and lower reaches of the Changjiang River; International general cargo transportation by ships and the West Section of Ningbo Round City Expressway Project operated by the holding subsidiary, Mingzhou Expressway.
Ningbo Ocean Shipping has established an extensive route network, mainly operating coal transportation from the north to the coast and power plants along the middle and lower reaches of the Changjiang River, as well as ore transportation from Australia to China, and imported coal transportation from Indonesia to domestic power plants. Ningbo Ocean Shipping’s product oil transportation mainly operates routes from the north to the Changjiang River, East China, South China and other routes.
As at the end of the half-yearly reporting period, the company owned 31 vessels with a total capacity of 1.529 million dwt, of which 30 bulk carriers (including 1 bareboat chartering capacity) with a capacity of 1.517 million dwt (26 handysize bulk carriers with 1.115 million dwt, 3 Panamax bulk carriers with 226,000 dwt, and 1 capesize carrier with 176,000 dwt). One product tanker with a capacity of 12,000 dwt.
