Shandong Ocean Shipping Group Secures New Order for Two Panamax Bulk Carriers, Expands Fleet

Shandong Ocean Shipping Group, a key player under Shandong Port Group, is accelerating its fleet expansion strategy with recent investments in both newbuilds and secondhand vessels.

The company has placed an order for two 95,500-dwt Panamax bulk carriers, marking its first entry into the mid-to-large dry bulk market. The deal, valued at CNY 548 million (approximately $76.3 million), will see these vessels delivered in 2027. The move reflects Shandong Ocean’s commitment to growing its dry bulk operations and enhancing its competitive edge in global shipping.

In addition to its newbuild strategy, Shandong Ocean has tapped into the secondhand market this year, acquiring two Japanese-built feeder boxships — SMC Columbus (2023) and SMC Magellan (2024). Valued at approximately $27.57 million and $28.06 million, these vessels were previously owned by Starocean Marine (Goto Shipping) and will now be operated by Asian Express Shipping (Shandong Ocean’s sister company). This acquisition strengthens its presence in short-sea liner services between China, South Korea, and Japan.

Shandong Ocean's strategic moves come on the back of its 2024 transformation into a joint-stock company. The company now operates over 60 vessels, including container ships, tankers, and bulk carriers, further solidifying its position in the international maritime market. With a diversified fleet and an expanding global footprint, Shandong Ocean is set to continue playing a pivotal role in driving the development of China’s maritime industry.

As the industry continues to face evolving challenges, Shandong Ocean’s investment in fleet expansion is a key example of how companies are adapting to meet future demand while positioning themselves for long-term growth.

by Xinde Marine News Chen Yang

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