On September 3, Fujian Haitong Development Co., Ltd. (hereinafter referred to as “Haitong Development”) released a feasibility analysis report regarding the use of proceeds from its planned 2026 private placement of A-shares. According to the announcement, the company intends to raise up to RMB 2 billion (approximately US$298 million) through this private placement, with the net proceeds—after deducting issuance expenses—to be used for a vessel acquisition project.
According to the announcement, the total investment for the vessel acquisition project is approximately RMB 2.252 billion (approximately US$335 million). The project involves the planned acquisition of 16 dry bulk carriers and multi-purpose heavy-lift vessels over a 36-month investment period. The project will be implemented by Haitong Development and its wholly-owned subsidiaries, Haitong International Shipping Co., Ltd. and Haidong International Shipping Pte. Ltd.
Haitong Development stated that it has gradually expanded from an initial focus on Supramax bulk carrier operations to a comprehensive operating model covering a full range of vessel types—including Supramax, Panamax, and Capesize—enabling it to efficiently transport minor bulk cargoes such as fertilizers, steel products, and sugar, as well as handle the ocean transport of major commodities like iron ore, coal, and grain.
Haitong Development plans to use the proceeds from this fundraising initiative to acquire dry bulk carriers and multi-purpose heavy-lift vessels. This move aims to continuously optimize the company’s fleet composition, allowing for flexible alignment with the requirements of various cargo types and shipping routes, thereby achieving comprehensive coverage and efficient operation of its shipping business. Additionally, the company intends to allocate a portion of the funds to acquire multi-purpose heavy-lift vessels to meet the growing demand for the maritime transport of high-end equipment and oversized/heavy cargo, creating an effective complement to its existing break-bulk and general cargo operations.
The successful implementation of this fundraising-funded project will further expand the carrying capacity of Haitong Development’s dry bulk fleet, optimize its fleet structure and global route network, enhance operational efficiency, and continuously strengthen its overall competitiveness in the international dry bulk shipping market.