NBOSCO(SH:601022) Zheng Quan Shi Bao Wang·2025-08-25 05:17Core Viewpoint - Ningbo Ocean has achieved significant growth in its fleet size and carrying capacity over the past decade, marking a transition from a small fleet to a modern shipping force, with a threefold increase in key metrics [1]. Group 1: Fleet Expansion - Ningbo Ocean's fleet has grown to over 109 vessels with a total deadweight tonnage exceeding 1.7 million tons, representing over a threefold increase in both metrics over ten years [1]. - The company began its fleet expansion in 2015, capitalizing on the integrated port strategy in Zhejiang, which led to a surge in water transport demand [2]. - Between 2015 and 2017, Ningbo Ocean added 11 new container ships with capacities ranging from 13,000 to 40,000 tons, increasing its fleet to 54 vessels and total deadweight tonnage to over 640,000 tons by the end of 2017 [2]. Group 2: Capitalization and Technological Advancement - In 2020, Ningbo Ocean initiated a capitalization process to integrate shipping resources and support the group's "double first-class" construction, leading to its listing on the Shanghai Stock Exchange in December 2022 [3]. - Since 2021, the company has added 21 new vessels, increasing its deadweight tonnage by nearly 600,000 tons and container capacity by over 30,000 TEUs [5]. - The fleet is transitioning towards "green" and "intelligent" technologies, with applications such as smart collision avoidance systems and energy management systems, achieving energy savings of up to 69.6% [5]. Group 3: Global Shipping Network Development - The fleet upgrade has supported the expansion of shipping routes, with new direct routes to Southeast Asia and the opening of trans-Pacific routes starting in 2022 [6]. - By 2024, the company plans to launch container transport routes to the Middle East, further enhancing its international presence [6]. - Currently, Ningbo Ocean operates over 40 shipping routes and more than 100 cargo vessels, connecting domestic coastal areas and major international ports, significantly improving logistics efficiency and industry influence [6].