Research Update | Fujian National Aviation Ocean Shipping Receives 5 Institutions Including China National Investment Securities, Focuses on Industry High Prosperity and Green Transformation, 6 New Ships to be Delivered in 2026

Basic Research Overview

Fujian GuoHang Ocean Transportation (Group) Co., Ltd. (hereinafter referred to as “the Company”) hosted an institutional research visit on March 10, 2026, at the Kempinski Hotel Shanghai. The activity was categorized as “Other,” with participating institutions including Guotou Securities, Datong Financial, Yuanxin Yongfeng Fund, Beiyin Fund, and Zhongcai Investment, totaling five organizations. Mr. He Zhiqiang, the company’s Secretary of the Board, represented the company to meet with the research team and discussed investor concerns regarding industry trends, fleet optimization, cost control, and profit expectations.

Key Points of the Research

Grasping the High Boom Cycle of Dry Bulk Shipping, Optimizing Routes and Cost Management

The company stated that the current dry bulk shipping market remains strong, with the Baltic Dry Index (BDI) reaching a new high for the year. Daily charter rates have significantly increased compared to the beginning of the year, bringing clear profit opportunities for the company. As a leading enterprise focused on dry bulk shipping, the company is seizing industry opportunities from two aspects: firstly, focusing on long-distance transportation demand for bulk commodities such as grains, iron ore, and bauxite by optimizing route layouts to improve vessel utilization; secondly, leveraging its operational advantages to strictly control costs, continuously amplifying the profit effects of the high boom cycle, while actively deploying compliant shipping capacity to further strengthen profit certainty.

Accelerating Fleet Optimization and Green Transition, 6 New Ships to be Delivered in 2026

In response to investor concerns about fleet quality and green low-carbon transformation, the company pointed out that fleet structure and green transformation capability are key core competencies of shipping enterprises. In 2026, the company will deliver six new ships, four of which are methanol dual-fuel main engine vessels. The new capacity will synergize with existing capacity to enhance overall fleet operational efficiency. Meanwhile, the company actively responds to the International Maritime Organization (IMO) greenhouse gas reduction strategies and the European Union Emissions Trading System (EU ETS), exploring green low-carbon shipping operation models, reducing carbon emission costs, and creating differentiated competitive advantages, laying a foundation for long-term investment stability and growth potential.

Steady Improvement in Operating Conditions and Continued Profit Growth Expectations

Financial data shows that the company’s operating conditions have been improving since 2025. In terms of cost control, the company has optimized vessel scheduling through digital operations, accurately measured vessel energy consumption, effectively reduced fuel and maintenance costs, and strictly controlled operating expenses to enhance overall profitability. Regarding profit stability, the company focuses on core clients and the dry bulk transportation sector, locking in stable transportation demand during the high boom cycle, while flexibly adjusting freight rates to fully benefit from rising freight rates. The company stated that as the supply-demand pattern of the dry bulk market continues to optimize, with longer voyage distances increasing demand, combined with the implementation of fleet optimization and cost control measures, profit levels are expected to continue rising, providing investors with predictable returns.

(Note: The company reminds investors to be aware of investment risks. The above content is based on the company’s current operational status and industry trend analysis and does not constitute investment advice.)

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Editor: Xiao Lang Kuai Bao