Four More Ordered! Taiwanese Shipowners Continue to Bet on Mainland Shipyards as They Expand Their Fleets

On March 20, Taiwanese shipowner DeXiang Shipping announced the signing of a contract with Mawei Shipbuilding for the construction of four 2,900-TEU container vessels.

The total contract value for this batch of new vessels is approximately US$169 million (about RMB 1.164 billion), equating to a unit price of US$42.15 million per vessel. Delivery is scheduled for May 2029. This figure is on par with the construction cost of the two identical vessels ordered by Daxiang Shipping from Mawei Shipbuilding last November, bringing the total contract value for all six newbuilds to roughly US$253 million (about RMB 1.742 billion).

For reference, Clarkson’s data show that the current newbuilding price for a 2,700–3,000 TEU container vessel is approximately US$43.5 million, unchanged from the same period last year.

This vessel features a Chittagong-class wide-body design, with a length of 185.99 meters, a breadth of 35.20 meters, a molded depth of 17.20 meters, and a full-load draft of 11.00 meters, resulting in a deadweight capacity of approximately 36,380 tonnes. In terms of energy efficiency, it incorporates an S-Bow low-wave resistance hull form, which, while maintaining the design draft and service speed, also optimizes overall seakeeping performance across all draft conditions, making it a highly efficient, economical, and environmentally friendly container ship.

Dexiang Shipping stated that the construction of a total of six container vessels will expand the company’s owned fleet and overall transport capacity, enabling it to better capitalize on market opportunities and meet the growing demand in the container shipping industry—particularly in the Asia-Pacific region and other key markets. In addition, Dexiang Shipping’s strategy involves maintaining a balanced mix of owned and chartered vessels while focusing on increasing the proportion of owned ships to achieve long-term cost advantages. Owned vessels are not subject to fluctuations in charter rates or fixed charter periods, which typically results in lower unit operating costs.

For the full year last year, Dexiang Shipping recorded revenue of approximately US$1.28 billion, a year-on-year decrease of about 4.2%; gross profit reached US$250 million, down 19.5% year on year; and net profit for the year totaled US$330 million, a year-on-year decline of 10.2%.

According to available information, Dashing Shipping was founded on March 2, 2001, and is a container shipping company focused on the Asian market, with its operations primarily concentrated in Asia. In recent years, the company has continuously launched new deep-sea routes to expand its service network: in 2021, it extended its trade routes to New Zealand and Canada; in 2022, to the United Kingdom, the Netherlands, Germany, Belgium, and the U.S. East Coast; and in 2023, it added services to Indonesia and East Africa. In November 2024, Dashing Shipping was officially listed on the Hong Kong Stock Exchange.

According to the latest data from Alphaliner, Dachang Shipping’s fleet currently operates 41 container vessels, comprising 35 owned ships and 6 chartered vessels, with a total capacity of 107,847 TEUs, ranking it 20th globally. In addition, Dachang Shipping has 12 newbuilds under construction totaling 86,800 TEUs, accounting for approximately 80.5% of its existing fleet.

The strategic partnership between Dexiang Shipping and Mawei Shipbuilding was inaugurated in 2021, on the occasion of the 155th anniversary of the founding of the Fujian Naval Arsenal. On that occasion, Dexiang Shipping presented the century-old shipyard with a particularly meaningful “birthday gift”: a bulk order for eight 1,100-TEU container vessels and six 2,900-TEU container vessels. This order represented the largest-ever container-ship build project undertaken by Mawei Shipbuilding, marking the successful launch of a mutually beneficial collaboration between the two companies. The delivery of this newbuild series was completed on January 16, 2024. Building on the solid foundation and mutual trust established through their initial cooperation, the two parties have since further deepened their partnership.

According to available information, Mawei Shipbuilding was founded in 1866 under the name Fujian Naval Arsenal, making it China’s earliest established shipbuilding enterprise, with a history spanning 159 years to date. In 2016, Mawei Shipbuilding relocated to Culu Island in Lianjiang County, where its campus covers approximately 1,060 mu. The facility is equipped with a medium-sized offshore engineering dock measuring 280 meters in length, 82 meters in width, and 13.5 meters in depth, as well as a 700-ton gantry crane. It also features three outfitting berths with a total quay length of 1,326 meters and a single integrated hull fabrication workshop capable of processing 80,000 tons of steel.

Mawei Shipbuilding is the largest state-owned shipbuilding enterprise in Fujian Province and a key shipbuilding base in southern China. It possesses capabilities in the research, design, construction, and repair of all types of vessels up to 100,000 deadweight tons, with particular expertise in the design and construction of high-value-added offshore engineering equipment, tuna purse-seine fishing vessels, deep- and far-sea aquaculture facilities, multi-purpose container ships, bulk carriers, and oil and chemical tankers.

Excluding the most recent order, Clarkson’s data show that, as of now, Mawei Shipbuilding holds a total of 54 orders amounting to approximately 1.24 million deadweight tons, comprising 17 offshore support vessels, 12 car carriers, 11 oil tankers, 10 bulk carriers, 3 container ships, and 1 other vessel, with delivery schedules extending through 2029.