Fast-growing Chinese owner Qingdao Pengteng International Ship Management continues to diversify.

Multiple brokers link the young boxship specialist to its first handysize bulker. Brokers report that Pengteng has added the six-year-old, 34,500 DWT Xing Ning Hai for $23m.

Pengteng’s fleet list has ballooned since 2020. VesselsValue lists 24 purchases in the last couple of years, with most ships bought around ten years of age. The fleet consists of mostly smaller multipurpose vessels and feeder ships between 1,000 to 1,800 TEU. Its live fleet is valued at just under $365m, while it has ships worth close to $780m on order, according to VesselsValue.