Shandong Shipping

What Shandong Shipping does

Shandong Shipping Corporation (SDSC) is a large Chinese state-owned ocean transportation enterprise founded in 2010 under the Shandong Provincial People's Government, initiated by Shandong Marine Group Ltd. with registered capital of 60.74 billion yuan. The company ranks third in China among ocean transportation enterprises after COSCO Shipping and China Merchants, operating 137 large ships with controlled capacity exceeding 15 million DWT across dry bulk carriers (VLOC, Capesize, Panamax, Handymax, Kamsarmax), VLGCs, MR tankers, and IMO Type II/III chemical tankers, serving over 1,000 ports in more than 100 countries. SDSC operates the world's largest 400,000 DWT ore carrier and was the first to invest in building the world's first 250,000 DWT ore carrier.

The company's core technology includes proprietary green propulsion systems such as ethanol-capable dual-fuel marine engines (developed with Wärtsilä), the world's first CCUS system for new shipbuilding (co-developed with Shanghai Marine Diesel Engine Research Institute), methanol dual-fuel VLOCs with wind rotor energy-saving devices, intelligent PV power generation systems, and China Classification Society-certified intelligent ship systems with remote monitoring, operation, and control capabilities. SDSC monetizes through long-term charter contracts (10-25 years) and time charter agreements with global mining giants (Vale, BHP), energy majors (Shell, BP, RWE), and commodity traders (COFCO, Wanhua Chemical), supplemented by ship management, crew manning, international trade, and marine engineering equipment services. The company employs an asset-light business model, leveraging financial leasing partnerships with ICBC Leasing, BOC Leasing, CDB Financial Leasing, Minsheng Financial Leasing, and BOB Financial Leasing to expand fleet capacity without full balance-sheet exposure, while operating a Singapore regional hub (SDSC Singapore Holdings) for international operations.

Name

Shandong Shipping

Legal name

Shandong Shipping Corporation

Website

https://en.sdshipping.cn

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Shandong Shipping Corporation (SDSC) is a Chinese state-owned ocean transportation enterprise ranking third in China, operating 137 large ships over 15 million DWT including the world's largest 400,000 DWT ore carrier, serving global mining, energy, and commodity trading clients through long-term charter contracts across dry bulk, liquid bulk, and chemical tanker segments.

Ownership category

akta.pro rank

Product category

Ocean Freight & Bulk Shipping Services

NAICS

Deep Sea Freight Transportation (483111), Deep Sea, Coastal, and Great Lakes Water Transportation (4831)

SIC

Deep Sea Foreign Transportation Of Freight (4412), Water Transportation (4400)

akta.pro primary industry

Bulk Dry Cargo Carriers (Capesize/Panamax/Supramax/Handysize) (TLADABAC)

akta.pro secondary industries

Liquid Bulk / Crude & Product Tanker Operators (VLCC/Suezmax/Aframax/MR) (TLADABAD), Minerals & Ores Transport (Iron Ore/Bauxite/Phosphate) (TLADAKAE), Crude Oil & Petroleum Products Tanker Transport (TLADALAA)

Keywords

• Dry bulk shipping
• Liquid bulk transport
• Ocean freight services
• Vessel chartering
• Ship management

Headquarters

HQ city

Qingdao Shi

HQ country

China

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Technology or R&D, Personnel, Supply Chain

Revenue model

1. Dry Bulk Shipping Services: Marine transportation of bulk cargo including iron ore, coal, grain, and other commodities. Revenue generated through long-term charters and spot voyage contracts. Fleet operates on routes connecting over 1000 ports in more than 100 countries and regions.
2. Liquid Bulk Cargo Transport: Transportation of petroleum products, chemicals, LPG, LNG, and ethane. Includes VLGC fleet operations and medium-range petroleum tankers. Revenue from time charter parties and voyage contracts with oil majors and chemical companies.
3. Long-Term Vessel Charter Contracts: 25-year charter contracts for specialized vessels such as ethanol-powered carriers, methanol dual-fuel VLOCs. Provides steady, long-term revenue streams from major mining and commodity trading clients.
4. Ship Management and Crew Manning Services: COC certificates covering vessel types and flag states. Provides crew service assignment for Chinese vessels on international/domestic lines and various ship types including containers, bulk, Ro-Ro, cruise, passenger ships.
5. International Trade Operations: Import business of staple commodities including iron ores, soybeans, coal, nonferrous metals, plastics, rubber, LNG, LPG. Cold chain logistics for marine products, meat, and fruit using 'Internet+' industrial model.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

Shandong Shipping Corporation operates ocean transportation of dry and liquid bulk cargo including iron ore, coal, grain, petroleum products, chemicals, LPG, and LNG. The company provides long-term charter contracts, time charter parties, and voyage freight services using a specialized fleet of VLOCs, Capesize, Panamax, Handymax bulk carriers, VLGCs, MR tankers, and IMO Type II/III chemical tankers. Services cover over 1,000 ports across more than 100 countries for major mining companies, energy groups, and commodity traders.

Product overview

Shandong Shipping Corporation (SDSC) is a large state-owned shipping enterprise offering integrated logistics services through multiple business segments: dry bulk shipping (VLOC, Capesize, Panamax, Handymax vessels), liquid bulk cargo transport (LPG, petroleum tankers), ship management, international trade, and marine engineering equipment. The company operates the world's largest 400,000 DWT ore carrier and built the world's first 250,000 DWT ore carrier. Its fleet includes Kamsarmax bulk carriers, Aries Project chemical tankers (50,000 DWT IMO Type II/III), and new methanol dual-fuel VLOCs (325,000 DWT). The ShanDong Shipping Alliance provides joint operation platform. Total controlled ocean transportation capacity exceeds 16 million DWT, ranking third in China.

Differentiator

Problem solved

Functional benefit

Brands

• Shandong Shipping Alliance (SSA): Joint operation platform initiated and established by SDSC to gather vessels, cargo resources, funds, and management elements of the shipping industry.
• Shandong Shipping Tanker Co., Ltd.

Products and services

• Dry Bulk Shipping
• Liquid Bulk Cargo Transport
• ShanDong Shipping Alliance (SSA)
• Ship Management and Crew Manning
• International Trade
• Marine Engineering Equipment
• Aries Project (Chemical Tanker Fleet)
• 325,000 DWT Methanol Dual-Fuel VLOC

Quantifiable outcome

• Reduction of greenhouse gas emissions by around 90% compared to heavy fuel oil with ethanol-powered vessels
• +4 more outcomes

Named customers8 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

23 partnerships are on record, tiered core, minor and major.

• ValecoreStrategic or Co-development Partner · 19 May 2026Vale ordered first ethanol-capable X-DF-M/E engines for two ore carriers to be built for Shandong Shipping, scheduled for early 2029 delivery. Vessels built in China with engines designed to run primarily on ethanol with capability to burn methanol or diesel.
• ValecoreStrategic or Co-development Partner · 10 April 2026Vale signed agreement with Shandong Shipping to build two ethanol-powered Guaibamax bulk carriers, marking world's first ocean-going vessels powered primarily by ethanol. Vessels scheduled for delivery from 2029 under 25-year contracts. Part of Vale's Ecoshipping program supporting Scope 3 emissions reduction by 15% by 2035.
• Shell (additional LNG carriers)coreStrategic or Co-development Partner · 27 January 2026Shell signed charter with Shandong Shipping for four additional LNG carriers, expanding existing partnership into LNG transportation segment.
• Guangzhou Shipping ExchangeminorChannel Partner/ Reseller/ Distributor · 16 December 2025Online auction of five 82,000 DWT Kamsarmax bulk carriers owned by Shandong Shipping, sold above reserve prices totaling $124.5 million. Attracted over 40,000 online viewers and buyers from more than 20 countries.
• Beihai ShipbuildingcoreStrategic or Co-development Partner · 29 September 2025Construction of 325,000 DWT methanol dual-fuel VLOC commenced on September 29. Vessels feature methanol and fuel oil dual-fuel propulsion meeting IMO NOx Tier III and EEDI Phase III standards. Part of ten green vessels with RMB 10 billion total investment.
• ValecoreStrategic or Co-development Partner · 29 September 2025Vale attended construction commencement ceremony for first 325,000 DWT methanol dual-fuel VLOC. Project is flagship initiative of SDSC's strategy linking global resources with advanced manufacturing.
• China Classification SocietymajorTechnology or Integration · 29 September 2025Attended construction commencement ceremony for methanol dual-fuel VLOC. Provides classification and certification services for vessel standards compliance.
• DNV (Norway)majorTechnology or Integration · 29 September 2025Attended construction commencement ceremony for methanol dual-fuel VLOC. Provides classification and certification services.
• Guangzhou Shipyard International (GSI)coreStrategic or Co-development Partner · 31 March 2025Aries Project partnership for eight 50,000 DWT IMO Type II oil chemical tankers. Innovative model integrating resources across shipbuilding, financial leasing, and ocean transportation logistics. First seven vessels generated nearly USD 9 million in cumulative profits.
• Hengyi LogisticscoreStrategic or Co-development Partner · 31 March 2025Aries Project partnership integrating resources across shipbuilding, financial leasing, and ocean transportation logistics for chemical tanker pool operations.
• TÜV Rheinland GroupmajorTechnology or Integration · 8 March 202510-year charter project for 'LADY DAWN' vessel. Partnership for advanced design, low-carbon environmental protection, energy-efficient operations and superior safety and reliability.
• Shanghai Marine Diesel Engine Research InstitutecoreStrategic or Co-development Partner · 5 December 2023Joint development of world's first carbon capture, utilization and storage system for new shipbuilding. Full-scale and full-process marine CCUS system contract signed for design, installation and application on 82,000-ton bulk carrier.
• Fleet ManagementmajorStrategic or Co-development Partner · 29 May 2023Strategic cooperation agreement signed to strengthen in-depth cooperation in ship management business, focusing on clean energy application on super-large ore ships and best management practices of energy-saving ships.
• BHP BillitoncoreStrategic or Co-development Partner · 23 April 2023Long-term strategic cooperation. Customized operation of world's largest 400,000-ton ore carrier and world's first 250,000-ton ore carrier for BHP.
• BP p.l.c. (British Petroleum)coreStrategic or Co-development Partner · 19 April 2023Time charter party for two MR (medium-range) 50,000 DWT tankers for petrochemical transportation. Realized increase both in market size and capacity with low cost. BP has dominant advantages in petroleum transportation in Europe.
• Royal Dutch Shell PLCcoreStrategic or Co-development Partner · 23 April 2021SOLAR project with eight IMO II 50,000 DWT refined oil/chemical tankers providing worldwide transportation services for Shell. Vessels constructed by Jiangsu New Times Shipbuilding to highest standards with world's leading design and construction technologies.
• Dalian Maritime UniversitymajorStrategic or Co-development Partner · 23 April 2021Strategic cooperation agreement signed for talent development and research collaboration in maritime shipping.
• Shanghai Maritime UniversitymajorStrategic or Co-development Partner · 23 April 2021Strategic cooperation agreement signed for talent development and research collaboration in maritime shipping.
• Kyokuyo Shipyard CorpmajorStrategic or Co-development Partner · 30 April 2020Investment in construction of 178,000 CF type refrigerated cargo vessel for ultra-low temperature transport of tuna and other high-end ocean catches.
• ITOCHU CorporationmajorStrategic or Co-development Partner · 30 April 2020Investment in construction of 178,000 CF type refrigerated cargo vessel for international ultra-low temperature refrigerated cargo field.
• China Merchants Industry Holdings Nanjing Jinling ShipyardmajorStrategic or Co-development Partner · 30 July 2019Delivery of tenth ship in 82,000-ton Kamsarmax bulk cargo ship project. Partnership for quality vessel construction and delivery.
• RWE GroupcoreStrategic or Co-development Partner · 15 November 2018Long-term lease for ten 180,000 DWT dry bulk carriers to transport 150 million tons of coal and other bulk raw materials. Partnership dating back to 2013. Total contract value exceeding 1.9 billion USD. RWE states SDSC is earliest and most important shipping partner in China.
• SWS Shipbuilding (China Shipbuilding Industry Group)coreStrategic or Co-development Partner · 15 November 2018RWE project partnership: SWS Shipbuilding built ten 180,000 DWT dry bulk vessels. One of largest shipyards with highest production capacity and technological level in China.

Scale indicators10 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Safe Bulkers: Safe Bulkers is a Greek-incorporated dry bulk shipowner operating Panamax, Kamsarmax, Post-Panamax, and Capesize vessels. Comparable to SDSC's Kamsarmax and Capesize dry bulk operations serving coal, iron ore, and grain trades.
• Eagle Bulk Shipping: Eagle Bulk Shipping operates a fleet of Supramax/Ultramax dry bulk vessels focused on minor bulk trades. While smaller in scale, it competes with SDSC in regional dry bulk markets and shares similar customer types among commodities traders.
• China Merchants Energy Shipping: China Merchants Energy Shipping is a major Chinese state-owned shipping company and the second-largest ocean transportation enterprise after COSCO, ranking just above SDSC. Operates VLOCs, tankers, and bulk carriers with overlapping customer base among Chinese commodity importers and global mining giants.
• Diana Shipping: Diana Shipping is a Greek dry bulk owner operating Capesize, Kamsarmax, Panamax, and Handymax vessels on time charters to mining and commodities customers. Comparable fleet mix and customer profile to SDSC's dry bulk operations.
• Dorian LPG: Dorian LPG is a U.S.-listed pure-play VLGC owner operating fuel-efficient LPG carriers. Direct competitor to SDSC's VLGC fleet in the global LPG transportation market.
• Star Bulk Carriers: Star Bulk Carriers is a Greek-listed global dry bulk shipowner operating a large fleet of Newcastlemax, Capesize, Panamax, and Supramax vessels. Directly competes with SDSC in dry bulk shipping for iron ore and coal transport, serving similar mining and energy customers.
• BW LPG: BW LPG is the world's largest owner and operator of Very Large Gas Carriers (VLGCs) transporting LPG. Directly comparable to SDSC's VLGC operations (12 vessels, largest in China), competing for global LPG shipping customers.
• Pangaea Logistics Solutions: Pangaea Logistics Solutions is a dry bulk shipping company specializing in ice-class and project cargoes with a fleet of Panamax and Post-Panamax vessels. Comparable to SDSC in dry bulk operations with similar long-term charter relationships with industrial customers.
• Genco Shipping & Trading: Genco Shipping & Trading is a New York-listed dry bulk shipowner with a fleet of Capesize, Ultramax, and Supramax vessels. Competes with SDSC for dry bulk cargoes including iron ore, coal, and grain, with similar time charter business model.

Broad incumbents

• COSCO Shipping Holdings: COSCO Shipping Holdings is China's largest ocean transportation enterprise, the state-owned flagship carrier that ranks above SDSC. Operates container, dry bulk, and tanker fleets globally, providing directly comparable services across all of SDSC's primary segments with greater scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Shandong Shipping