Shanghai-listed regional carrier Ningbo Ocean Shipping Co. has announced plans to issue new shares to targeted investors. The capital injection aims to raise approximately USD 160 million to fund a new wave of fleet modernization and equipment procurement, according to DynaLiners. Capital deployment and new vessel orders The newly raised funds are earmarked for strategic capacity expansion, specifically targeting regional Asian trade networks: Newbuilding order : Ningbo Ocean Shipping will contract the construction of four 2,700 TEU containerships. Equipment upgrades : A portion of the USD 160 million will be allocated toward ordering new container equipment to support the expanded fleet. Aggressive fleet growth This capital raise follows a highly active year of shipbuilding commitments for the carrier, which has already completed two major orders earlier this year: 4x 4,300 TEU ships : Ordered earlier in the year to boost capacity on larger regional routes. 4x 1,900 TEU ships : Confirmed in a separate order earlier this year, targeting the regional feeder segment. The post Ningbo Ocean Shipping to issue new shares for fleet expansion appeared first on Container News .