Fujian Shipping Group recently commissioned the construction of two ultramax bulk carriers, entrusting the project to Nantong Xiangyu Shipbuilding & Offshore Engineering, a fellow Chinese shipbuilder. These carriers, each with a deadweight of 64,000 tons, are scheduled for completion in 2025, as per data from Clarksons Research. While the exact cost remains undisclosed, market estimates suggest a price tag of around $33 million for vessels of this type. Over the past year, Nantong Xiangyu Shipbuilding & Offshore Engineering has successfully promoted its proprietary designs for 63,500 dwt and 79,900 dwt bulk carriers, attracting both domestic and international buyers to its shipyard in eastern China. Established in 2016 through the acquisition of Minde Shipyard, this shipbuilder also specializes in constructing chemical tankers, in addition to bulk carriers. Fujian Shipping Group’s current fleet comprises 10 vessels: three (3) bulk carriers, five (5) general cargo ships, and two (2) multi-purpose vessels (MPP). 13-November-2023
The state-run Fujian Shipping Company (Fusco), a subsidiary of the Fujian Provincial Communication Transportation Group, has recently launched a dedicated shipmanagement unit named Zhongping Shipmanagement. This move is a significant strategic initiative for Fujian Shipping Company (Fusco), marking a key step in their plan to expand their light asset business and diversify operational activities. The state-run Fujian Shipping Company (Fusco), known for its fleet operations, currently has a fleet of 20 bulk carriers. The establishment of Zhongping Shipmanagement is expected to enhance the efficiency and effectiveness of their fleet management, aligning with the company’s broader objectives of business diversification and growth within the maritime sector. This development underscores Fujian Shipping Company’s (Fusco) commitment to adapting and expanding its role in the shipping industry. 13-July-2020
An incident at Xixiakou Shipyard involving the MV Jin Hai Xiang, a 69,000 DWT bulk carrier built in 1994, resulted in 19 injuries. This incident occurred while the vessel, part of the Fujian Shipping Group’s fleet, was undergoing its routine five-year special survey. In response, Fujian Shipping Group has dispatched a team to the shipyard to contribute to the ongoing investigation. The MV Jin Hai Xiang is one of the 26 bulk carriers operated by Fujian Shipping Group. The injured individuals from the MV Jin Hai Xiang have been hospitalized, and their conditions are reported to be stable. 26-May-2019
Guangdong Yudean Shipping, the maritime division of the state-owned Yudean Group, has recently forged an agreement with Fujian Shipping Group, initiating a series of collaborative ventures in areas such as ship chartering, crew management, and the integration of shipping resources. Marking their first joint initiative, the two entities have completed a ship chartering deal. Under this agreement, Yudean Shipping will charter the MV Dong Fang Sheng, a panamax bulk carrier built in 1990, from Fujian Shipping Group for the duration of this year. This partnership signals the beginning of what is expected to be a series of further chartering arrangements between Yudean Shipping and Fujian Shipping Group. Currently, Yudean Shipping operates a diverse fleet of 23 bulk carriers, which includes panamax, post-panamax, and supramax bulk carriers. This collaboration underscores the growing synergy between major shipping enterprises in China, aiming to optimize maritime operations and resource utilization. 9-May-2018
Fujian, located on China’s southeast coast, has long been a pivotal maritime hub. It gained historical significance when the renowned explorer Zheng He embarked on his inaugural voyage from Quanzhou, Fujian, in 1405, marking a significant chapter in China’s maritime history. To bolster its maritime influence, the Fujian Provincial Communication Transportation Group consolidated major shipping entities in the region to form the Fujian Shipping Group at the end of 2014. This new entity amalgamated the three largest shipping companies in Fujian—Fujian Shipping Company, Xiamen Shipping Company, and Orient Shipping Company—along with over 40 smaller firms. As a result, Fujian Shipping Group emerged as the leading shipping and crew management organization in the province, boasting a fleet of 45 vessels. Yang Jinchang, previously the general manager of Fujian Shipping Company, was appointed as the general manager of the newly formed Fujian Shipping Group. The annual cargo throughput in Fujian exceeds 300 million tons. Historically, 90% of this was handled by non-local shipping companies, but the formation of Fujian Shipping Group is set to gradually change this dynamic. The group has strategically divided business sectors among its major companies: Fujian Shipping Company now specializes in bulk shipping, Orient Shipping in container shipping, and Xiamen Shipping focuses on passenger transport after transferring its bulk assets to Fujian Shipping Company. The consolidation under Fujian Shipping Group has optimized the region’s fleet assets and enhanced its maritime capabilities. It serves as a model for promoting mergers and alliances in the local shipping industry, particularly in response to market downturns. In line with Beijing’s push for maritime mergers during economic challenges, the Fujian Free Trade Zone (FTZ) was inaugurated, following the examples of Shanghai, Tianjin, and Guangzhou. Spanning 118 square kilometers across Fuzhou, Xiamen, and Pingtan, the Fujian FTZ aims to intensify trade between mainland China and Taiwan, a venture from which Fujian Shipping Group is poised to benefit significantly. Fujian Shipping Group is authorized by the Ministry of Transport to operate direct container services to Taiwan and plans to expand its China-Taiwan services. The group anticipates a surge in shipping demand, correlating with the commencement of various steel and power projects in Fujian. Additionally, Fujian Shipping Group is restructuring its port assets. Significant developments include the 2014 restructuring of Xiamen Port and the establishment of Putian Port Group, integrating port assets in Meizhou Bay. Fujian’s government has outlined plans to centralize container shipping in Xiamen and Jiangyin ports, dry bulk in Luoyuanwan and north Meizhou Bay, and liquid bulk in Zhangzhou and south Meizhou Bay. Fujian Shipping Group envisages that the concurrent development of shipping and port sectors will attract more traders and suppliers, stimulating the entire industrial chain and solidifying its role in regional economic advancement. 6-August-2015
The Fujian Provincial Communication Transportation Group is currently in the process of establishing the Fujian Shipping Group, a major initiative that aims to consolidate over forty (40) shipping companies from Fuzhou, Xiamen, Hong Kong, and Taipei. This integration will result in a formidable fleet of 45 ships, positioning Fujian Shipping Group as the largest shipping conglomerate in the Fujian region. Upon its establishment, which is anticipated by the end of this year, Fujian Shipping Group will manage a diverse range of maritime services. These will include operations in bulk shipping, container shipping, and passenger shipping, specifically focusing on routes between Fujian and Taiwan. Moreover, there are plans to venture into the cruise business, indicating a broadening of their service offerings in the future. This strategic consolidation represents a significant step in enhancing the maritime capabilities of Fujian Province and is expected to play a pivotal role in the region’s economic growth and maritime influence. 15-October-2014