Ningbo Ocean Shipping Co., Ltd. announced progress on its container ship investment project and plans to establish overseas companies.
According to the filing, the company intends to set up two wholly owned subsidiaries in Singapore through its existing wholly owned subsidiary Ningbo Ocean Shipping (Singapore) Co., Ltd.
The planned entities are Ningbo Ocean Shipping (Singapore) Longitude Pte. Ltd. and Ningbo Ocean Shipping (Singapore) Latitude Pte. Ltd., with registered capital of SGD 5 million each.
Longitude Singapore will invest in and operate four 2,700 TEU container vessels with a total investment of about RMB 1.194 billion. Latitude Singapore will invest in and operate four 4,300 TEU container vessels with a total investment of about RMB 1.7 billion. The funds will mainly cover shipbuilding projects as well as the establishment and initial operations of the overseas companies.
The company’s 2025 first extraordinary general meeting authorized the board to review the investment. On September 6, 2025, the second board of directors held its 15th meeting and unanimously approved the establishment of the two subsidiaries, authorizing management to proceed with all related matters.