Eight vessels exceeding 1.6 billion! Jinjiang Shipping Signs Contract for 1,900 TEU Container Vessels

On March 10, Jinjiang Shipping and Jiangsu Xinyangzi Shipbuilding Co., Ltd. held a contract signing ceremony in Taizhou, Jiangsu, for the construction of four + four 1,900 TEU container vessels.

The formal signing of this construction contract marks a crucial step in optimizing and upgrading Jinjiang Shipping’s core fleet capacity, laying a solid foundation for high‑quality development during the 15th Five‑Year Plan period. Yang Zhiyong, Vice President of Shanghai International Port (Group) Co., Ltd., attended the ceremony, joined by representatives from organizations including the China Classification Society and the Shanghai Ship Research and Design Institute, who all came to witness the event.

Previously, in January of this year, Xin Yangtze Shipbuilding won the bid for a newbuild project involving four 1,900 TEU container vessels for Manqiang Shipping Co., Ltd., a wholly owned subsidiary of Jinjiang Shipping. The bid price for these four new vessels totaled 820 million yuan, equivalent to 205 million yuan per vessel (approximately 30 million US dollars). The first vessel is scheduled for delivery within 819 calendar days after the contract is signed and becomes effective; the second vessel will be delivered one month later, with the third vessel set for delivery in March 2029, followed by one vessel delivered every month thereafter.

For reference, according to Clarkson’s data, the current newbuilding price for a 1,800–2,100 TEU container ship is approximately USD 32 million, a slight decrease from USD 32.5 million in the same period last year.

According to reports, Manqiang Shipping is a wholly owned subsidiary of Shanghai Jinjiang Shipping (Group) Co., Ltd., registered and established in Hong Kong on November 20, 1987. On October 19, 1995, the company set up an office in Shanghai, named “Manqiang Shipping Co., Ltd. Shanghai Office,” primarily engaged in liaison work related to freight forwarding services.

In June 2024, Jinjiang Shipping designated Manqiang Shipping as the implementing entity for both the “International Container Shipping Vessel Acquisition Project” and the “Container Acquisition Project.” In September 2025, Jinjiang Shipping utilized 329 million yuan of raised capital to increase Manqiang Shipping’s registered capital, thereby advancing the “International Container Shipping Vessel Acquisition Project.” At the same time, two new single‑vessel companies—SUPER TONE and SUPER RANGE—wholly owned by Manqiang Shipping were established as the specific implementing entities for this project.

In January 2026, in order to make rational use of temporarily idle raised funds, Manqiang Shipping opened a dedicated settlement account for cash management of raised funds at the Hong Kong Branch of Shanghai Pudong Development Bank Co., Ltd. Its business market covers mainland China, Hong Kong, South Korea, other Asian countries, Southeast Asia, Taiwan, and Western Europe, among other regions.

As of June 30, 2025, Manqiang Shipping’s total assets amounted to RMB 2.946 billion, with net assets attributable to shareholders standing at RMB 1.882 billion; from January to June 2025, Manqiang Shipping recorded operating revenue of RMB 714 million and net profit attributable to shareholders of RMB 102 million.

Jinjiang Shipping pointed out that the four + four 1,900 TEU container vessels being built this time represent a pivotal move for Jinjiang Shipping as it embarks on the inaugural year of its 15th Five-Year Plan. This project is a key initiative for the company’s capacity renewal efforts—and a strategic step to deepen its presence in regional routes, strengthen its core business, and solidify its development foundation. The newly built vessels will further expand Jinjiang Shipping’s fleet size, optimize its fleet structure, enhance operational efficiency and service capabilities, and provide robust support for the company to consolidate its advantages in route services, explore emerging markets, and bolster its core competitiveness.

Jinjiang Shipping will take this signing as a new starting point to deepen its collaborative partnership with New Yangzijiang Shipbuilding, strengthen communication and coordination, efficiently advance project construction, and wholeheartedly build high‑quality vessels. This will inject lasting momentum into the company’s high‑quality, sustainable development and foster mutually beneficial, win‑win cooperation through joint efforts.