Shanghai-listed Jinjiang Shipping has moved to grow its container fleet, unveiling plans to invest up to RMB 1.94bn (about $270m) in a series of bangkokmax newbuildings.
The Shanghai International Port Group-controlled carrier has approved a proposal to order four 1,800 teu containerships, with options for a further four of the same design. The firm ships are budgeted at around $33.8m each, with the option vessels to be exercised within a set period after signing the contracts.
Jinjiang said the investment fits with its wider strategy and operating needs, with the new ships aimed squarely at Southeast Asian trades. The additional tonnage is expected to support route expansion in the region and fine-tune the company’s capacity mix.
The carrier added that the ships will also strengthen its so-called premium routes, allowing it to roll out its higher-end service model across more Southeast Asian loops. At the same time, Jinjiang is looking to tighten links between Northeast Asia and Southeast Asia, offering customers more routing options while improving efficiency and service levels.
Jinjiang Shipping currently ranks 34th globally, according to Alphaliner, with a fleet of 52 vessels totalling about 59,400 teu, of which 26 are owned. The bangkokmax move follows a recent order for up to four 1,100 teu newbuildings placed at Sumec Marine, underlining the company’s focus on regional feeder and intra-Asia trades. If all options are taken up, the latest plan would mark one of Jinjiang’s largest single newbuilding investments to date.