On February 25th, Ningbo Marine Co., Ltd. (hereinafter referred to as “Ningbo Marine”) issued an “Announcement on Exercising the Option for Two 64,000 DWT Bulk Carrier Orders.”
The announcement disclosed that Ningbo Marine issued a formal notice of effectiveness to Jiangsu Haitong Offshore Engineering Equipment Co., Ltd. (JSHT). From February 25, 2025, the order for two optional vessels with contract numbers JSHT367/JSHT368 for the company to build four 64,000 DWT bulk carriers will take effect.
According to the announcement, the construction contract for the above four 64,000 DWT bulk carriers was signed with JSHT on November 26, 2024. Under the terms of the contract, Ningbo Marine has the right to notify JSHT in writing on or before February 25, 2025 whether or not to effect the contract for the construction of the said option vessel.
It is reported that the total investment of the four 64,000 DWT bulk carriers will not exceed RMB 1.165 billion and will be delivered from August 2027 to December 2027.
Founded in October 1950, Ningbo Marine was listed on the A-share market in April 1997, and was the first listed joint-stock marine transportation enterprise in Zhejiang Province, and in October 2012 it was incorporated into the management of Zheneng Group.
Ningbo Marine 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 Yangtze River, as well as the transportation of general cargoes by international vessels. As of June 2024, Ningbo Marine owns 31 vessels with a total capacity of 1,529,000 DWT, ranking among the top 10 major shipping enterprises in China in terms of the size of domestic coastal fleet.