Fujian Guohang Ocean Shipping (Group) Co., Ltd. (Guohang Ocean Shipping), China's fourth-largest shipping company, has signed a strategic alliance memorandum with Hong Kong Ming Wah Shipping Co., Ltd., a subsidiary of China Merchants Energy Shipping Co., Ltd. (CMES). The signing ceremony, held in Shanghai, marks a new chapter in maritime cooperation, with both companies committed to enhancing fleet operations, boosting efficiency, and driving sustainable growth.

Strengthening Global Dry Bulk Operations
Under this alliance, Guohang Ocean Shipping and Hong Kong Ming Wah will leverage their complementary strengths to:
Optimize fleet operations through capacity sharing and joint deployment
Enhance cargo diversity and expand trade lanes
Increase operational efficiency and market competitiveness
Promote green, low-carbon shipping solutions

Powering Trade with a Strong Panamax Fleet：
Guohang Ocean Shipping currently operates 22 vessels (16 of which are Panamax-type) with a total capacity of 1.164 million DWT. With 14 new orders in the pipeline—including 12 Panamax ships—its Panamax fleet will expand to 28 vessels, making up 78% of its operations.
Meanwhile, Hong Kong Ming Wah brings its world-leading VLOC (Very Large Ore Carrier) fleet, an extensive Panamax fleet, and a global trade network, spanning Asia, Europe, the Americas, and emerging markets.

Following a challenging end to 2024, the Baltic Panamax Index (BPI) has rebounded, surpassing 1,000 points on February 11, 2025. Panamax time charter rates have also surged 31%, from $6,736/day (Jan 28) to $8,848/day (Feb 13)—a promising sign for the dry bulk sector.

This strategic alliance between Guohang Ocean Shipping and Hong Kong Ming Wah goes beyond business—it’s a bold step toward smarter, greener, and more efficient global shipping. As trade dynamics evolve, these two maritime powerhouses are poised to reshape the future of dry bulk transportation.

by Xinde Marine News Chen Yang

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