Chinese shipping company Fujian Highton Development announced plans to raise up to RMB 2 billion (about $295 million) to finance a fleet expansion program for 16 dry bulk and multipurpose heavy-lift vessels.
How the company plans to finance the expansion
As part of the plan, the company announced a private placement of up to 412.5 million new A-shares, representing around 30% of current paid-in capital. Proceeds are expected to be fully used for vessel purchases.
The total budget for the investment program is estimated at RMB 2.25 billion (about $332.2 million). Proceeds from the placement will cover the majority of costs, with the remaining amount to be paid from Highton's own resources.
Key parameters of the program
- Implementation period: 36 months.
- Purchase volume: 16 vessels (dry bulk and multipurpose heavy-lift).
- At this stage, specific ship names, sellers, shipyards, sizes, and ages have not been disclosed; this is still a framework plan for fleet acquisition.
Expansion context
The funding update came amid one of the fastest growth phases in the company’s history.
According to previous reports, Fujian Highton ordered two more multipurpose heavy-lift vessels of 62,000 dwt from Taizhou Kouan. As a result, the Newbuild orderbook in this series rose to 9 vessels, with total investment in it reaching RMB 2.7 billion ($398 million).
Earlier, the company mainly expanded its fleet through the secondhand market, while this year it shifted to more active investment in newbuilding.
Current fleet position (as of end of 2025)
By the end of 2025, the company reported having under management:
- 61 owned vessels (dry bulk),
- 13 long-term chartered dry bulk vessels,
- 4 multipurpose heavy-lift vessels,
- 3 tankers.
Total controlled tonnage at that time was about 5.02 million dwt.
Next steps
Execution of the new placement depends on:
- approval by shareholders,
- review by the Shanghai Stock Exchange,
- registration with the China Securities Regulatory Commission (CSRC).
GLOAPM.COM