The ten companies operated 2,152 ships totalling 203.9 million dwt at the end of 2025. Their subsequent investments range from long-term ore-carrier contracts and specialised newbuildings to regional liner services and overseas ventures.

China’s ten largest international shipping fleets entered 2026 with a combined 2,152 vessels and 203.894 million deadweight tonnes, according to the 2025 Report on China’s Shipping Development.

Since then, companies on the list have expanded through different combinations of ship purchases, newbuilding contracts, chartered tonnage and overseas operations. Shandong Shipping has agreed a long-term vessel programme with Vale, Zhonggu Logistics has contracted 18 containerships, and Zhejiang Xiehai Group has participated in the launch of a shipping venture in Sierra Leone.

The developments highlight the range of businesses within China’s international fleet: large diversified shipping groups, independent bulk operators, regional container lines and shipping companies linked to provincial port and transport groups.

The 2025 starting point

The report ranks companies by the deadweight capacity of their operated international fleets as of 31 December 2025. Vessels engaged in both domestic and international trade are excluded.

COSCO SHIPPING and China Merchants together accounted for approximately 83.9% of the ten companies’ combined deadweight capacity.

Their leading positions have a substantial history. The Shanghai Shipping Exchange’s provisional ranking for the end of 2019 also placed COSCO SHIPPING, China Merchants and Shandong Shipping in the top three. SITC and Jiangsu Ocean Shipping were also among the ten largest international fleets at that time.

Deadweight measures the weight a vessel can carry, including cargo, fuel and stores. It provides a common basis for comparing fleets, although container operators generally measure capacity in TEU—twenty-foot equivalent units—and vehicle carriers use car-equivalent units.

The following developments cover disclosures available through 2 November 2026. They do not constitute a revised ranking: reporting dates and the scope of group, subsidiary, owned and chartered fleets differ.

COSCO SHIPPING and China Merchants update specialised fleets

COSCO SHIPPING’s container business illustrates the scale of its operations within a much broader shipping group.

Listed subsidiary COSCO SHIPPING Holdings reported an operated containership fleet of 610 vessels with approximately 3.66 million TEU at the end of September 2026. Container volumes reached 21.491 million TEU in the first nine months, up 6.47% year on year. These figures cover the listed company and its subsidiaries, rather than the parent group’s entire international fleet.

China Merchants’ activities likewise extend across several shipping markets. Its listed subsidiary China Merchants Energy Shipping reported 245 owned vessels totalling 39.6197 million dwt and 70 chartered-in vessels totalling 5.8699 million dwt as of 30 September. Its businesses include tanker, dry bulk, LNG, vehicle-carrier and container shipping.

Fleet renewal continued in October with the delivery of CM WUHAN, a 7,800-CEU methanol dual-fuel vehicle carrier. The vessel was named and delivered in Nantong on 16 October and is the second ship in the company’s 7,800-CEU methanol dual-fuel series.

Such additions change the services a fleet can provide as well as its overall size. Vehicle capacity, fuel capability and suitability for particular trades are not fully captured by a deadweight ranking.

Shandong Shipping links new tonnage to long-term business

Shandong Shipping’s international fleet has expanded substantially over several years. The Shanghai Shipping Exchange’s provisional 2019 figures recorded 41 vessels and 5.559 million dwt, compared with 86 vessels and 11.245 million dwt in the 2025 report.

In 2026, Vale announced an agreement with Shandong Shipping covering two new-generation, 325,000-dwt Guaibamax ore carriers under 25-year contracts, with deliveries scheduled to begin in 2029.

The vessels are designed to use ethanol as their primary fuel, while also being capable of operating on methanol and heavy fuel oil. The agreement includes an option for additional ships; those optional vessels are separate from the two confirmed vessels.

The arrangement connects investment in large, specialised ships with long-term business from a major cargo owner. It also places fuel flexibility within a contract period spanning decades, during which fuel availability, operating costs and emissions requirements may change.

Bohai adds bulk carriers and advances an ore-carrier project

Bohai Shipping’s 2026 developments include both delivered ships and a larger-vessel construction programme.

According to industry reports, the 82,000-dwt BH STRIVE and 64,000-dwt BH TANGSHAN joined its operations in May. BH TANGSHAN was delivered on 25 May.

A procurement notice published on the Hebei Communications Investment Group platform on 29 September sought construction-supervision services for four 320,000-dwt ore carriers for Bohai.

The notice confirms that the project is advancing, but does not establish that all four ships were newly ordered in 2026 or specify their delivery dates.

The combination broadens Bohai’s vessel mix, from bulk carriers serving a range of commodities to much larger ships designed for ore transportation.

Highton expands beyond its dry bulk base

Fujian Highton Development, the Shanghai-listed private shipping company known in Chinese as Haitong Development, is extending its fleet into multipurpose and heavy-lift shipping.

Its 2026 interim report disclosed the purchase of four dry bulk carriers during the first half and arrangements securing seven multipurpose heavy-lift newbuildings through finance and operating leases. The additional vessel types support a move into equipment and project-cargo transportation alongside its established dry bulk business.

During an investor briefing on 26 October, Highton also outlined a proposed programme to acquire 16 dry bulk and multipurpose heavy-lift vessels, supported by a planned RMB2 billion equity fundraising. The stated implementation period was 36 months.

That programme remains a proposed investment plan. It should neither be treated as delivered capacity nor automatically added to the newbuilding arrangements disclosed in the interim report.

Xiehai develops its presence in Sierra Leone

Zhejiang Xiehai Group’s expansion includes a growing presence in West Africa.

The Sierra Leone Ocean Shipping Company, or SLOSCO, launched on 19 October 2026. Its website identifies the venture as bringing together the Sierra Leone National Shipping Agency and Xiehai’s international shipping capabilities, with a business focus on dry bulk, oil and project cargo.

The relationship also extends to port logistics. The Sierra Leone Ports and Harbours Authority said it met Xiehai representatives on 20 October to discuss potential investment in cargo-haulage trucks serving Freetown.

The authority linked those discussions to an existing direct shipping connection between Taizhou and Freetown, launched in December 2025. The truck investment remained subject to agreement, but the discussions show how Xiehai’s local activities are extending beyond ocean transport into the movement of cargo inland.

SITC and Zhonggu pursue different container strategies

SITC and Zhonggu occupied neighbouring positions in the 2025 deadweight ranking, but their international container businesses have developed along different paths.

SITC has an established focus on intra-Asian container shipping and supporting logistics. At 30 June 2026, it operated 120 vessels with 185,365 TEU, comprising 98 owned and 22 chartered ships.

Its network covered 74 trade lanes and 79 major ports, including services provided through joint operations and slot-exchange arrangements. All 120 vessels were in capacity categories of 3,000 TEU or below.

Compared with the 119 vessels recorded in the end-2025 ranking, the change in ship numbers was modest. For a regional operator, however, service coverage also depends on sailing frequency, port combinations and connections with inland logistics.

Zhonggu’s international expansion has involved both chartering vessels to other operators and developing its own liner services.

An exchange-filing response published by listed subsidiary Zhonggu Logistics on 31 October showed that vessels deployed in international business increased from 23 at the end of 2023 to 34 in 2024, 36 in 2025 and 42 at the end of June 2026.

Of the latest total, 34 were employed on outward time charters and eight on the company’s own international services. These are listed-company figures and are not directly comparable with the 41 vessels attributed to Zhonggu Shipping Group in the 2025 ranking.

Zhonggu Logistics also signed contracts during the first half of 2026 for eight 6,300-TEU and ten 1,800-TEU containerships. The orders provide capacity for its international expansion, while the move towards more own-operated services requires additional cargo sales, port arrangements and overseas operational support.

Zhejiang Shipping uses leasing; Jiangsu Ocean builds overseas networks

Zhejiang Shipping Group, part of Zhejiang Communications Investment Group, combines domestic and international shipping with related maritime services.

On 21 July 2026, the approximately 40,500-dwt handysize bulk carrier XIN AN JIANG was delivered and entered operation. It was the first of four newbuildings under a project involving Zhejiang Shipping and Zheshang Leasing, with the vessel introduced through an operating lease.

The accompanying report put Zhejiang Shipping’s total capacity at 4.03 million dwt. That broader figure should not be compared directly with the 2.56 million dwt recorded for its international fleet at the end of 2025.

For Zhejiang Shipping, leasing provides access to new tonnage while limiting the initial cash commitment associated with outright ownership. The resulting rental obligations become part of the fleet’s continuing operating commitments.

Jiangsu Ocean Shipping, a subsidiary of Jiangsu Port Group, is expanding both its fleet and overseas organisation.

Jiangsu’s provincial state-assets regulator reported in September that construction had begun on the company’s first 82,000-dwt dry bulk carrier. It subsequently confirmed the establishment of Vietnam and Middle East branches during a group visit between 25 September and 2 October.

During the same visit, Jiangsu Port Group signed a strategic cooperation agreement with DP World covering areas including port operations, shipping services, cargo development and end-to-end logistics.

For Jiangsu Ocean Shipping, the overseas branches provide a local presence to support those activities. Together with its parent’s port interests and customer relationships in Jiangsu, they form part of a wider effort to connect the province’s exporters with overseas markets.

Expansion on different timelines

The ten companies’ projects will add capacity on different schedules. Some vessels, including CM WUHAN and XIN AN JIANG, are already delivered. Zhonggu’s containerships are contracted, Jiangsu Ocean’s new bulk carrier has entered construction, and Shandong Shipping’s new-generation Guaibamax deliveries are scheduled to begin in 2029.

Those differences matter when assessing the fleet’s development. Newbuilding contracts represent future capacity; acquisitions and charters can alter operating fleets sooner; and overseas offices or joint ventures expand commercial reach without necessarily adding ships immediately.

The 2025 ranking establishes the scale of these businesses. Their 2026 activity shows how that capacity is being deployed: towards long-term commodity transportation, specialised cargoes, regional container services and a larger operating presence overseas.