The first order in four years! Jinjiang Shipping Orders Construction of a Feeder Container Ship

Shanghai Jinjiang Shipping has returned to the new-build shipbuilding market, ordering 2 + 2 energy-efficient 1,100-TEU feeder container ships from Sumida Shipbuilding.

The bidding project by Jinjiang Shipping attracted the participation of several shipyards, with Sumeda Shipbuilding, Wuchang Shipbuilding, and Huanghai Shipbuilding emerging as the top three candidates to win the contract. According to the contract terms, the shipyard will deliver the first vessel within 720 calendar days after the contract is signed and becomes effective, followed by the delivery of one new ship every three months thereafter.

This series of vessels has a total length of 147.90 meters, a length between perpendiculars of 144.75 meters, a molded breadth of 23.25 meters, and a molded depth of 11.50 meters. The design draft is 7.30 meters, while the structural draft reaches 8.50 meters. With a loading capacity of 1,182 TEU, including an average container load of 712 TEU at 14 tons per container, and a refrigerated container capacity of 145 FEU, these ships are designed for a cruising speed of approximately 18.5 knots. Each vessel is powered by a main engine with an SMCR rating of 7,700 kW at 110 rpm, and they have been classed by the China Classification Society and fly the Hong Kong, China flag.

For reference, Clarkson's data shows that the current price of a newbuild 1000/1200 TEU container ship is approximately US$24.25 million (about RMB 173 million), representing a slight decrease compared to US$24.50 million during the same period last year.

This is Jinjiang Shipping's first new ship order in the past four years. Notably, Jinjiang Shipping last placed an order for new vessels in 2021, when the company commissioned a series of four 1,900-TEU container ships from Yangfan Group. These newly built vessels were all delivered between 2023 and 2024.

This new ship investment plan comes at a time when Jinjiang Shipping is experiencing profit growth and continues to expand its routes across Asia, South Asia, and the Middle East—thanks to its unique position in regional trade. According to the latest data from Alphaliner, Jinjiang Shipping currently operates a fleet of 51 container vessels, including 26 owned ships and 25 chartered ones, with a total capacity of approximately 56,371 TEU, ranking it 35th globally.

Shanghai Jinjiang Shipping (Group) Co., Ltd. was established in 1983 and primarily engages in international container transportation, specialized shipping services, and shipping logistics operations. In recent years, Jinjiang Shipping Group has steadily achieved growth in both economic performance and operational scale by successfully implementing its brand strategy and continuously promoting initiatives focused on integrity and trustworthiness.

In the first half of this year, Jinjiang Shipping achieved revenues of 3.378 billion yuan, a 26.11% increase compared to the same period last year. Net profit attributable to shareholders of the listed company reached 794 million yuan, up 150.43% from the previous year. Notably, the company posted second-quarter revenue of approximately 1.712 billion yuan and net profit attributable to shareholders of about 438 million yuan, representing a 22.72% quarter-on-quarter growth from the previous quarter.

Jinjiang Shipping's order will further expand Sumida Shipbuilding's market share in the feeder vessel segment. In recent years, Sumida Shipbuilding has accelerated its business expansion, continuously enriching its mainstream product lineup and achieving remarkable results in the feeder container ship sector. This May, Sumida Shipbuilding successfully won the bid for two 1,100-TEU feeder container ship construction contracts from Minsheng Shipping. Most recently, the company announced that it has once again joined forces with its long-term partners Chartworld and TMA, securing two additional 3,100-TEU feeder container ship construction contracts.

Clarkson's data shows that Sumida Shipbuilding's New Dayang Shipyard currently holds an order book totaling 71 vessels with a combined deadweight tonnage of 4.29 million tons, including 62 bulk carriers, 4 container ships, 4 oil tankers, and 1 offshore engineering vessel, with delivery schedules extending as late as 2028.