Ningbo's ship capacity exceeds 11m DWT

Ningbo Zhoushan Port, the world's largest port in terms of cargo throughput volume. [Photo/cnnb.com.cn]

Ningbo in East China's Zhejiang province recently saw its ship capacity surpass 11 million deadweight tons after a local shipping company obtained its ship operating certificate.

This means that Ningbo now accounts for 38 percent of the total coastal shipping capacity in Zhejiang, making it a leading city in China's maritime industry.

Recognizing the importance of a strong shipping industry in promoting sustainable development, Ningbo has actively pursued support policies to enhance the growth and operational efficiency of shipping companies. As a result, the city has secured over 70 million yuan ($9.8 million) in incentive funds for both 2021 and 2022, benefiting more than 60 companies operating in the region.

This year, Ningbo has attracted 17 new shipping companies, resulting in a net increase of 707,000 DWT in ship capacity. From June to November, the city witnessed the establishment of 15 new companies, contributing to a net increase of 597,000 DWT in ship capacity.

The growth in capacity has had a positive impact on water transport in Ningbo, with the city's waterway turnover steadily rising. In the first 10 months of this year, the city's waterway turnover experienced a growth rate of 12.7 percent compared to the same period last year, surpassing the previous year's growth rate by 4.8 percentage points and exceeding the provincial average by 2 percentage points.