On September 7, Ningbo Ocean Shipping issued the “Announcement on the Progress of Investment in the Construction of Container Ships and the Planned Investment in the Establishment of Overseas Companies.”
The announcement disclosed that Ningbo Ocean Shipping plans to establish Ningbo Ocean (Singapore) Jinghang Co., Ltd. (tentative name, hereinafter referred to as “Jinghang Singapore”) and Ningbo Ocean (Singapore) Weihang Co., Ltd. (tentative name, hereinafter referred to as “Weihang Singapore”) in Singapore through its existing wholly-owned subsidiary Ningbo Ocean (Singapore) Co., Ltd.
The announcement shows that Jinghang Singapore is responsible for the investment, construction and operation of four 2,700TEU container ship projects, with a total investment of approximately RMB 1.194 billion (approximately US$167 million); Weihang Singapore is responsible for the investment, construction and operation of four 4,300TEU container ship projects, with a total investment of approximately RMB 1.7 billion (approximately US$238 million).
The investment funds from the two overseas companies will primarily be used for shipbuilding projects and the initial establishment and operation of overseas entities. These funds originate from proprietary or self-raised capital, with the actual investment amount subject to approval by the relevant authorities in China and Singapore. The company will prudently deploy its investment within the authorized limits in phases according to actual requirements.
Ningbo Ocean Shipping stated that this investment, after careful evaluation, is consistent with the company’s shipbuilding plan and will help the company optimize and strengthen its core shipping business, further enhancing its core competitiveness. Ningbo Ocean Shipping will also leverage Singapore’s shipping resources, supporting services, and geographical advantages as an international shipping center to strengthen exchanges and cooperation with the international market and enhance the company’s international competitiveness and service capabilities.
As the largest container liner shipping company in Zhejiang Province, Ningbo Ocean Shipping announced on April 30 and June 19 that it would invest RMB 1.4 billion and RMB 2 billion respectively to build four 2,700 TEU container ships and four 4,300 TEU container ships, both to be constructed by Huangpu Wenchong Shipbuilding.
In the first half of 2025, Ningbo Ocean Shipping handled 3.117 million TEUs of container cargo, representing a year-on-year increase of 21.8%. The company also managed 14.58 million tons of bulk cargo, marking a 4.3% rise compared to the same period last year.
Public information indicates that Ningbo Ocean Shipping’s core port, Ningbo-Zhoushan Port, is a major ocean-going container liner hub in mainland China and a key domestic hub for iron ore and crude oil transshipment. Centered on Ningbo-Zhoushan Port, the company has established a shipping network covering short-sea, transoceanic, coastal, and river routes, serving 49 major ports worldwide.