Zhonggu Logistics Expands Fleet with New Ship Orders
Zhonggu Logistics is ramping up its fleet expansion by securing a significant order for two post-panamax boxships at China Merchants Jinling Shipyard. The Shanghai-listed company announced the deal in a recent stock exchange filing, stating that it plans to finalize a construction contract for two vessels, each with a capacity of 6,000 TEU. The total value of the contract is set at RMB 1.16 billion (approximately $167 million), excluding taxes.
Recent Developments in Newbuilding Activity
This latest order marks a noteworthy return to newbuilding activities for Zhonggu Logistics, which had previously been quiet in this area. Earlier in the year, the company made headlines by placing orders for up to six 6,000 TEU boxships at Hengli Heavy Industry. This was the first significant order for Zhonggu in several years, highlighting a renewed commitment to expanding its operational capacity. The deal consisted of four firm orders with options for two additional vessels, with deliveries expected to extend through 2028.
With the recent orders, Zhonggu’s potential newbuilding expenditure for this year has reached nearly $670 million. The company currently operates 62 vessels with a total capacity of 53,664 TEU, according to fleet data from Alphaliner. The last major investment in the fleet occurred in 2021, when Zhonggu contracted a series of 4,600 TEU ships at an estimated price of $35 million each. The recent activity indicates a strategic move to enhance its fleet in response to the growing demands of the shipping industry.
