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Ningbo Ocean Shipping joins newbuild buying spree

Author:   Posttime:2021-08-13

THE Ningbo Ocean Shipping Company (NBOSCO) has joined its peers in the newbuilding arms race, reports London's Loadstar.

The shipping company has ordered three 3,300-TEU ships at Yangzijiang Shipbuilding and three 1,400-TEU ships at Penglai Zhongbai Jinglu Ship Industry.
Yangzijiang is China's largest non-state-owned shipbuilder while Jungly Shipyard is controlled by the government through a 51 per cent stake held by Qingdao Military-Civilian Integration Development Group.
The newbuildings will be delivered from late 2023 to early 2024. The contract price wasn't disclosed, though a 3,300-TEU newbuilding is priced at US$35 million a 1,400 TEU at $23 million.
NBOSCO has been expanding its liner service network from East Asia, launching new routes to Southeast Asia as part of the Belt and Road initiative.
 

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