On the evening of June 23, Shanghai Jin Jiang Shipping announced the execution of its option order at Yangzijiang Shipbuilding, ordering an additional four 1800TEU container ships.
According to the announcement, Jin Jiang Shipping’s wholly-owned subsidiary, Man Keung Shipping Co., Ltd., has signed shipbuilding contracts for four option vessels with Jiangsu New Yangzi Shipbuilding and Jiangsu Yangzi Hongyuan Shipbuilding. The total contract value is RMB 820 million, with the vessel payments to be made in five installments according to the shipbuilding progress stipulated in the contracts. These four 1800TEU vessels are scheduled to begin delivery in May 2029.
For reference, according to data from Clarksons, the current newbuilding price for an 1800-2100TEU container ship is approximately USD 32.75 million (about RMB 222 million), a slight increase compared to USD 32 million during the same period last year.
Previously, New Yangzi Shipbuilding won the bid for Man Keung Shipping’s four container ship newbuilding project in January this year. Subsequently, on March 10, Jin Jiang Shipping and New Yangzi Shipbuilding held a signing ceremony for a 4+4 container ship construction contract in Taizhou, Jiangsu. According to the contract arrangements, the first vessel will be delivered 819 calendar days after the contract is signed and takes effect, the second vessel will be delivered one month later, the third vessel is scheduled for delivery in March 2029, with subsequent vessels delivered at one-month intervals.
Jin Jiang Shipping stated that the company is a comprehensive shipping company, primarily engaged in international and domestic maritime container transportation services, and has continuously deepened its presence in Northeast Asia, Southeast Asia, and domestic routes over the years. The company solidifies its traditional advantageous routes to stabilize its core business performance; further deepens its differentiated advantages, focusing on building Southeast Asia as the second growth pole; and lays out emerging regional markets, densifying the Asian regional route network to further enhance route competitiveness and brand influence.
The decision to invest in building these vessels is a prudent one based on the company’s strategic planning and business development needs. This batch of newly built vessels will increase the company’s fleet size, meet its route expansion needs in the Southeast Asian region, and improve the capacity structure of its Southeast Asian routes. At the same time, it will also provide capacity support for enriching the “Silk Road Express” series of premium routes, further assisting the company in replicating its premium service concept in the Southeast Asian region. Additionally, the company will further promote the upgrading and interconnection of routes between the Northeast Asia region and the Southeast Asia region, bringing richer route services to customers in the region and helping to improve route operation quality and efficiency.
It is understood that Man Keung Shipping is a wholly-owned subsidiary of Shanghai Jin Jiang Shipping (Group) Co., Ltd., registered in Hong Kong on November 20, 1987. On October 19, 1995, the company established an office in Shanghai, named “Man Keung Shipping Co., Ltd. Shanghai Office,” primarily engaged in liaison work for freight forwarding business.
Shanghai Jin Jiang Shipping is one of the leading comprehensive container shipping enterprises in China. According to the latest data from Alphaliner, Jin Jiang Shipping’s fleet currently operates 54 container ships, including 27 owned vessels and 27 chartered vessels, with a total capacity of approximately 63,427 TEU, ranking 32nd globally.
