Jinjiang Shipping to raise $416 million in Shanghai IPO for expanison

Owned by Shanghai International Port Group (SIPG), Jinjiang Shipping plans to raise RMB3 billion ($416 million) in funds to purchase containerships, containers, and smart vessel transformation projects. 

As the end of 2022, Jinjiang Shipbuilding operates a fleet of 44 boxships including 25 self-owned vessels and 19 chartered vessels, totaling in 41,600teu. Specializing in feeder service to Japan, the company also expanded international services to Southeast Asia. 

Jinjiang Shipping has achieved three consecutive years revenue growth during 2019 and 2022. The company is expecting to further enhance comprehensive competiveness in container shipping market through the listing.