News / Ningbo Ocean Shipping joins box ship newbuild buying spree

Credit Jetson Yang

Ningbo Ocean Shipping Company (NBOSCO) has joined its peers in the newbuilding ’arms race’.

The Ningbo Port Group subsidiary has ordered three 3,300 teu ships at Yangzijiang Shipbuilding and three 1,400 teu ships at Penglai Zhongbai Jinglu Ship Industry (commonly known as Jinglu Shipyard).

Yangzijiang is China’s largest non-state-owned shipbuilder, while Jinglu Shipyard is controlled by the government through a 51% stake held by Qingdao Military-Civilian Integration Development Group.

The newbuildings will be delivered from late 2023 to early 2024. The contract price ...