Zhonggu Logistics Expands Fleet with New Vessel Orders
Chinese containership operator Zhonggu Logistics has made a significant move in the maritime industry by ordering up to six new 6,000 TEU vessels from Hengli Heavy Industry. This marks the company’s first foray into newbuilding activities in several years. The Shanghai-listed firm has confirmed the order for four firm vessels, with options for an additional two, signaling a strategic expansion of its fleet.
The announcement was made public through an exchange filing by Hengli’s parent company, Songfa Ceramics. The total contract value is estimated to be between RMB 3.4 billion and RMB 4 billion, which translates to approximately $489 million to $576 million, including tax. Deliveries of the new vessels are scheduled to occur through 2028. In a separate disclosure, Zhonggu Logistics stated that the total value of the order, excluding tax, will not exceed RMB 3.48 billion, or roughly $501 million.
Strengthening Domestic and Regional Operations
The newly ordered vessels will be operated by Zhonggu’s vessel-owning subsidiary, Zhonggu Shipping. This strategic investment is expected to enhance the company’s position in China’s domestic and regional container trades, which have seen increasing demand in recent years. The addition of these vessels will allow Zhonggu Logistics to better serve its customers and compete more effectively in the market.
Currently, Zhonggu Logistics operates a fleet of 62 ships with a combined capacity of 53,664 TEU, according to fleet data from Alphaliner. The company’s last significant newbuilding activity occurred in 2021 when it ordered a series of 4,600 TEU boxships at an average price of around $35 million each. This latest order reflects a renewed commitment to fleet expansion and modernization, positioning Zhonggu Logistics for future growth in the competitive shipping landscape.
Capital Maritime Expands Fleet with New Shipbuilding Contracts in China
As the global shipping industry continues to evolve, Zhonggu Logistics’ investment in new vessels underscores the importance of adapting to market demands and enhancing operational capabilities. The company’s proactive approach to fleet expansion could serve as a model for other players in the industry looking to strengthen their market presence.
