South Korea’s Dongjin Shipping has stepped outside its domestic market for its fleet expansion by ordering its first newbuilds from a Chinese yard.
Brokers report the Seoul-based feeder operator has contracted Yangzijiang Shipbuilding for three 1,100 teu vessels in a deal worth about $70m. Each ship is priced at $23m, with deliveries scheduled between 2027 and 2028.
The move marks a shift for Dongjin, which has until now sourced tonnage from domestic shipyards Dae Sun and HD Hyundai Mipo.
The company operates a fleet focused on regional feeder services linking South Korea, China, and Japan, as well as extended routes into Southeast Asia.
The newbuildings are expected to bolster Dongjin’s position in the competitive intra-Asia market, where carriers are moving to secure younger, more efficient ships amid rising demand and ageing feeder fleets.