Ningbo Marine maps out five-ship bulker expansion
Zhejiang Energy-backed Ningbo Marine has authorized the acquisition of five additional bulk carriers as part of a fleet modernization effort totaling nearly 600,000 dwt.
Ningbo Marine is advancing a fleet renewal strategy by authorizing the construction of five new bulk carriers in China, according to Splash 247. The board of the Shanghai-listed firm approved approximately $136 million for four 65,000 dwt vessels intended for domestic operations. Additionally, the company’s Singapore division received clearance to spend up to $36.5 million on an 82,000 dwt kamsarmax vessel for international trade. The acquisition process is currently in the preparatory stage, with the shipowner planning to select Chinese shipyards through a public tender process. Funding for these investments will be sourced from internal capital, bank loans, and other financial channels. This latest expansion follows a previous order for four ultramax vessels placed earlier this year at Jiangsu Haitong Marine Engineering Equipment, which are scheduled for delivery in 2027. As reported by Splash 247, this nine-ship newbuilding program represents roughly 40% of the company's current fleet capacity. Ningbo Marine, which is part of the Zhejiang Energy Group, currently operates 29 vessels primarily focused on coal and ore transportation. The company has seen a significant rise in cargo volumes and transport revenue, leading to increased reliance on chartered tonnage to meet growing demand.
Helena Marsh — Energy Markets Editor. Helena covers crude, refined products and the trading houses that move them, with a focus on price formation in the Mediterranean and Black Sea.
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