Built to Own, Operate, and Deliver

On January 30, our team came together in Nanjing for the company’s annual dinner, where office colleagues, crew members, captains, partners, and guests gathered across five tables, highlighting the strong connection between shore and sea. During the evening, our CEO Mr. Liu reflected on the company’s notable fleet expansion over the past year as a key milestone, and shared an optimistic outlook for the year ahead, with more vessels expected to join the fleet as the company continues its growth momentum.

The evening was filled with great food, laughter, toasts, and lively karaoke, creating a relaxed and joyful atmosphere that allowed everyone to connect beyond daily work. As we head into the new year together, we extend our best wishes to all colleagues, crew, and partners for a happy, healthy, and prosperous Chinese New Year.

Both BAO SHINE (宝霞轮) and BAO YI (宝亦轮) have successfully completed a two-week Special Survey at the Zhoushan Huafeng Shipyard and has now resumed operations on January 26th, 2026. Upon completion, BAO SHINE commenced Voyage 26101, trading on a general cargo route from Northern China ports to Georgetown, Guyana. BAO YI is currently operating on Voyages 26101 / 26202, executing a cement voyage from Yangtze River ports to the Philippines, followed by a log cargo voyage from Papua New Guinea back to Yangtze River ports.

We would like to extend our sincere thanks to Zhoushan Huafeng Shipyard and the leadership team at ABS for their strong support and close cooperation throughout the survey period, ensuring a smooth and efficient return to service.

Qintai & Bothwin Shipping proudly welcomes three newly delivered bulk carriers into our managed fleet: BAO NICO at Subic Bay, BAO SHENG at General Santos, and BAO VOYAGE at Fujairah. These additions further strengthen our operational presence across Asia and reflect our continued commitment to reliable, high-quality fleet management.

Here at the Bothwin & Qintai group, we’re excited to welcome five bulk carriers into our managed fleet. Backed by decades of technical know-how and certified safety systems, our team will keep these vessels trading safely and efficiently worldwide.

• BAO NICE — delivered into management on October 31, 2025 in Manila, Philippines.
• VW TRUST — delivered into management on September 11, 2025 in Singapore.
• RIGHT OCEAN — delivered on October 21, 2025 in Tianjin.
• BEYOND — joined on April 25, 2023 in Jingjiang.
• RIGHT HILL — joined on March 19, 2024 in Tianjin.
• BEYOND 2 — joined on December 12, 2024 in Nansha.

Qintai Shipping has successfully assumed management of MV BAO GALA (宝格轮) — ex name MINDANAO — in Qinhuangdao. The vessel’s addition further strengthens our geared bulk capability and underscores our commitment to safe, compliant, and efficient operations across regional and international trades.

With BAO GALA now under our management, our chartering team is placing the vessel into the market immediately through our global network. By optimizing voyage planning, tightening port turnaround, and implementing fuel-efficiency best practices, we aim to elevate operating efficiency and deliver stronger, more stable returns for the vessel owner, while providing reliable, on-schedule service to our cargo clients.

Qintai successfully assumed management of the vessel BAO SHINE (宝霞轮), formerly known as OLIVIA, in Nagasaki. This milestone strengthens our managed fleet and reflects our continued commitment to safe, compliant, and efficient operations.

Our chartering team is now placing BAO SHINE into the market through our global network, targeting steady, well-balanced employment. By applying optimized voyage planning, fuel-efficiency practices, and fast port turnaround, we aim to enhance operating efficiency and deliver stronger earnings for the vessel owner while providing reliable service to our cargo customers.

This spring and summer, our fleet completed three back‑to‑back dry‑dock milestones at Zhoushan Huafeng Shipyard. On 8 April, the 35,000‑DWT Bao Shun returned to service after a thorough inspection. Just weeks later, on 20 May, the 24,000‑DWT Bao An followed suit. Most recently, on 15 July, the 30,000‑DWT Bao Long cleared the dock right on schedule. These seamless turnarounds refresh our vessels’ safety and efficiency and highlight our team’s strong coordination with the yard—keeping our ships ready for reliable performance worldwide.

On 13 July, Shengda 8 steamed back into home waters and tied up at Nanjing’s Mingzhou Wharf right on cue. Director Zhou led a five‑member task force from Operations, Marine/Technical, and HR aboard to greet our hardworking crew and take the pulse of daily operations.

The agenda was full: check recent inspections, fine‑tune maintenance plans, and map out next‑step tasks to keep the ship running safely and efficiently. Boarding formalities were brisk, and by ten‑o’clock we were shaking hands with the Captain in his office.

After a meet and greet with all crew members, we headed to the bridge and engine room. The watch hand‑over was textbook—every checklist ticked, every call logged. Meanwhile, our marine superintendent dove into detailed discussions with the chief officer and chief engineer, ensuring that professional guidance reached the people who keep this vessel humming.

Acuon Capital Corporation’s Vice General Manager, Mr. Whoon‑Joong Kim, traveled from Seoul to reunite in Nanjing with our CEO, Mr. Liu Xudong, celebrating nearly a decade of partnership that began with their joint purchase of the vessel “BAO DA” in April 2018. Since then, the two leaders have closed nine ship‑acquisition deals totaling almost USD 40 million—each completed smoothly, on schedule, and to mutual benefit. During this latest visit they reviewed those successes and agreed to pursue their next project: acquiring a 57 K DWT vessel late this year or early next, maintaining open communication to ensure another win‑win outcome.

A Qintai marine superintendent visited Shandong’s Penglai Port to conduct an onboard inspection of company vessel Baoshun. Images are shown to showcase the latest condition of the vessel.

Recently, Mr. Chen, representing the owner company of the bulk carrier “Sheng Da 8,” led a delegation to our headquarters for a working visit. The guests toured our offices and operations center, commended our achievements in vessel management and service quality, and held cordial talks on strengthening information exchange and future collaboration. Both parties expressed confidence in forging closer ties and driving more value together.

On 28 May 2025, Mr Masakatsu Tsuru, General Manager of Nippon Kaiji Kyokai (ClassNK) Shanghai Branch, led a delegation to our office in Nanjing. The guests toured the facilities and provided many valuable insights, helping our company's journey in achieving outstanding ship safety and management standards. Both sides exchanged views on enhancing communication and professional collaboration, expressing optimism about deeper ties and broader cooperation in the future.

We recently held a joyful retirement celebration for Mr. Yang, our longtime Office Manager, and Mrs. Zhang, the dedicated lead of our Finance Division. Surrounded by the entire team at two large tables, we shared a warm evening of laughter, great food, and heartfelt gratitude. Their years of hard work, care, and leadership have meant so much to all of us. We sincerely thank them for their unwavering dedication and the countless ways they’ve supported this company. While we celebrated their retirement, we’re deeply grateful to welcome them back for a few more years post-retirement!