On April 30, Ningbo Ocean Shipping Co., Ltd (hereinafter referred to as “Ningbo Ocean Shipping” or “the Company”) issued the “Announcement on the Proposed Investment in the Construction of Four Container Ships”, announcing that it will use no more than RMB 1.4 billion (approximately) US$200 million to invest in the construction of four 2,700TEU container ships, aiming to further optimize the fleet structure and expand the fleet size.
The announcement disclosed that Ningbo Ocean Shipping held the 12th meeting of the second board of directors on April 28, 2025, and the meeting reviewed and approved the “Proposal on the Investment in the Construction of Four 2700TEU Container Ships”.
In order to further optimize the company’s fleet structure, expand the fleet size, and continuously strengthen the company’s route service capabilities, the company’s board of directors agreed that the company or its subsidiaries will use no more than RMB 1.4 billion to invest in the construction of four 2700TEU container ships, and agreed to authorize the company’s management and relevant functional departments to conduct market research on the ships to be built, select the best shipbuilding manufacturers through bidding, sign relevant contracts and other matters related to the ships to be built.
Ningbo Ocean Shipping said that this investment in ship construction will help further optimize the company’s fleet structure, expand the fleet size, actively build a high-standard fleet with a reasonable structure and strong competitiveness, continuously strengthen the company’s route service capabilities, and continuously enhance the company’s market competitiveness.