SIMIC

The shipping company has ordered three 3,300-TEU ships at Yangzijiang Shipbuilding and three 1,400-TEU ships at Penglai Zhongbai Jinglu Ship Industry.

Yangzijiang is China's largest non-state-owned shipbuilder while Jungly Shipyard is controlled by the government through a 51 per cent stake held by Qingdao Military-Civilian Integration Development Group.

The newbuildings will be delivered from late 2023 to early 2024. The contract price wasn't disclosed, though a 3,300-TEU newbuilding is priced at US$35 million a 1,400 TEU at $23 million.

NBOSCO has been expanding its liner service network from East Asia, launching new routes to Southeast Asia as part of the Belt and Road initiative.