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Shares of the parent company of a prominent Chinese shipbuilding giant surged after the company announced it secured an order for twelve 9,200 Twenty-Foot Equivalent Unit (TEU) container ships, valued at roughly CNY9 billion (around USD1.2 billion).
The order specifies that the 12 ships will be constructed by the company’s subsidiary in Dalian for a well-known shipping company. Delivery of these vessels is planned between 2028 and 2030, with payments to be made in Chinese yuan. The client’s identity remains confidential due to a confidentiality agreement.
The company’s stock in Shanghai closed the day up by 5.8%, reaching CNY38.60 (about USD5.65) per share, even as the overall market declined slightly by 0.3%. Since the end of last month, the stock has risen over 26%, driven by the company’s announcement of two major deals within a month.
In late March, the company signed a contract to build ten very large crude carriers (VLCCs) for China Merchants Energy Shipping, with a total value estimated around CNY8 billion to CNY9 billion.
This latest order involves a new class of medium-sized container ships, designed by the Dalian unit to meet the latest international environmental standards. These ships are expected to excel in performance, environmental compatibility, operational reliability, and other critical benchmarks, positioning them among the top vessels globally within their category.
The project is set to leverage Dalian Shipbuilding’s manufacturing efficiency, accelerate product line upgrades, and reinforce its market position and reputation in the container shipbuilding industry.
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