Wedoany.com Report on Mar 9th, According to the Korean Shipping Gazette and eWorldShip, South Korea's Namseung Shipping Co., Ltd. and its affiliate Dongyoung Shipping Co., Ltd. signed an agreement on March 4th to order four new feeder container ships from Guangzhou Huangpu Wenchong Shipbuilding Co., Ltd., a subsidiary of China State Shipbuilding Corporation (CSSC). This order includes two 4,300 TEU vessels and two 1,900 TEU vessels.
The total contract value is approximately $185 million, with each 4,300 TEU ship costing about $60.5 million and each 1,900 TEU ship about $32 million. The delivery is scheduled for 2028, with the two larger ships expected in June and October, and the two smaller ones in October and December.
This transaction marks the first cooperation between Huangpu Wenchong Shipyard and these two South Korean container shipping companies. The 4,300 TEU vessels were developed by the Shanghai Merchant Ship Design and Research Institute and are suitable for ocean-going routes, capable of transporting standard containers, reefers, and dangerous goods containers. These ships are built to Tier III ME standards, comply with HPSCR regulations, and have design provisions for alternative fuels such as methanol, LNG, and ammonia.
The 1,900 TEU vessels belong to Huangpu Wenchong's internal Honghu feeder series. For Namseung Shipping, the new ships will become the largest in its fleet upon delivery, surpassing its current maximum capacity of about 2,500 TEU. The additional capacity will support the company's long-term network expansion into India and Southeast Asia, while Dongyoung Shipping plans to deploy the smaller vessels on Southeast Asian routes.
Namseung Shipping Co., Ltd. was established in 1953 as South Korea's first private ocean-going shipping company and primarily operates intra-Asia container liner services. Dongyoung Shipping Co., Ltd. was founded in 1974, initially focusing on routes to Japan, and has since expanded its business to regions including China, Hong Kong, Southeast Asia, and Russia.
