Bohai Ocean Shipping Co., Ltd. (BOSC) and Wah Kwong Maritime Transport Holdings have taken their cooperation to the next level, reaching new consensus on two strategic projects: the establishment of a joint bulk carrier capacity pool and the construction of energy transportation vessels.
Bulk Carrier Pool Nears Operational Launch
With the joint venture company now officially registered, both parties plan to inject vessels into a unified operational platform to leverage economies of scale, optimize global fleet deployment, mitigate market volatility, and enhance profitability. According to the Shanghai Shipping Exchange, BOSC ranked as China’s fourth-largest shipping company in 2024 with 42 vessels totaling 4.72 million DWT, primarily in the mid-to-large bulk carrier segment. Wah Kwong’s bulk carrier fleet totals 40 vessels (including 4 newbuilds) across Capesize, Kamsarmax, Ultramax, and Handymax types, with a balanced, competitive age profile.
Entering the LNG Carrier Segment
In energy transportation, the collaboration will accelerate vessel construction projects, with the LNG carrier segment confirmed as the focal point. BOSC will thus make its entry into the LNG shipping market through this partnership. Wah Kwong’s energy fleet already covers LNG carriers, VLCCs, LR2s, and Aframax tankers, with an LNG newbuilding program under way at Dalian Heavy Industry (17.5k cbm units delivering 2026–2028).
Strategic Impact
As a key provincial shipping enterprise, BOSC has grown rapidly since its establishment in late 2022, aligning with Hebei’s “ocean-oriented” development strategy. Wah Kwong, founded in 1952 by the Chao family—is a leading Asia-Pacific owner-operator with extensive experience in global fleet management and large vessel operations.
This strong alliance combines BOSC’s growing operational scale with Wah Kwong’s global experience and diversified fleet, reinforcing Hebei’s position as a regional shipping and logistics hub, while promoting upstream and downstream integration in the maritime supply chain.
by Xinde Marine News Chen Yang
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