Splash247: Young Chinese carrier moves into ownership with boxship newbuilds

China’s Chenxin Shipping has taken the plunge into vessel ownership with an order for four newbuild containerships, signalling the young carrier’s intent to shift from slot-sharing to controlling its own tonnage.

The 2023-established company has contracted two 4,350 teu ships and two 1,900 teu feeders, with deliveries scheduled for 2028. The deal also carries options for another four vessels of the same sizes, giving Chenxin the potential to double its initial orderbook. Neither the contract price nor specific delivery slots were disclosed.

Until now, Chenxin has operated via slot-sharing agreements, mainly on services to the Middle East, India, Pakistan, and the Red Sea. In May last year, it launched a direct service connecting major Chinese ports—including Tianjin, Qingdao, Shanghai, Ningbo, Nansha, and Shekou—with the Red Sea and Turkey. Management has described that loop as the cornerstone for a wider expansion plan, with North America, Southeast Asia, East Africa, and North Africa on the radar.

The company’s newbuilding decision also reflects wider trends in container shipping. Orders for feeders under 3,000 teu have jumped by 70% year on year, as operators refresh ageing tonnage and strengthen regional trades. Analysts say this segment has been among the busiest in the orderbook, with smaller ships better suited for the fragmented and geopolitically exposed markets that lines like Chenxin serve.