China Maritime Briefing: New Car Carrier Service, Shuttle Tanker Order, and Seaspan's Landmark Bond Issuance

## China Maritime Briefing: New Car Carrier Service, Shuttle Tanker Order, and Seaspan's Landmark Bond Issuance A cluster of notable commercial developments from China's maritime industry this week highlights the sector's continued expansion across vessel segments, specialised trades, and international finance. ### Ningbo Ocean Shipping Launches Europe Car Carrier Service Ningbo Ocean Shipping has made its debut in the pure car and truck carrier (PCTC) market, launching a new ro-ro service to Europe aboard the brand-new 7,000 CEU LNG dual-fuel vessel *Clean Star*. A maiden voyage ceremony was held this week at the Meixi Ro-Ro Terminal in Ningbo-Zhoushan Port, according to Splash247. The vessel departed with more than 5,400 new energy vehicles (NEVs) on board, reflecting the surging demand for Chinese automotive exports — particularly electric vehicles — to European markets. The entry of Ningbo Ocean Shipping into the PCTC segment adds further competitive pressure to an already crowded trade lane that has attracted a string of new Chinese operators in recent years. ### China Merchants Firms Up Second Shuttle Tanker at DSIC China Merchants Energy Shipping (CMES) has exercised an option for a second shuttle tanker at Dalian Shipbuilding Industry Co (DSIC), consolidating its entry into the specialised shuttle tanker sector, Splash247 reports. The Shanghai-listed owner originally placed the order through its Hong Kong subsidiary, Associated Maritime Co. The confirmation of a second vessel signals CMES's commitment to building a credible presence in the technically demanding shuttle tanker market, which serves offshore oil production installations and requires vessels with dynamic positioning and bow-loading capabilities. ### Seaspan Makes History with Panda Bond Debut In a landmark financing move, Seaspan Corporation — led by CEO Bing Chen — has become the first international shipowner and operator to access China's domestic Panda Bond market, raising RMB 1.5 billion (approximately $209 million) through a three-year private placement, according to Splash247. The bond was issued at a coupon rate of 2.5% and attracted strong demand from both Chinese onshore and offshore investors. The transaction marks a significant milestone for international shipping finance, opening a new funding channel for non-Chinese shipowners seeking to diversify their capital sources and tap into China's deep domestic debt markets. Seaspan's move is likely to be closely watched by other major international operators considering similar structures. ### SANY Marine Expands Global Footprint On the equipment side, SANY Group announced it has reached two significant milestones in overseas markets, completing large-scale machinery deliveries and securing new orders in South America and Southeast Asia, including a partnership with Hanseatic Global Terminals, according to a PR Newswire release. The developments further illustrate the growing international reach of Chinese maritime and port equipment manufacturers. Taken together, this week's developments reflect the breadth of China's maritime ambitions — from vehicle exports and offshore energy logistics to innovative capital market structures that are beginning to reshape how global shipping companies raise funds.