Shih Wei Navigation Co., Ltd. (5608) held its 2025 Annual General Meeting on Wednesday June 25 at 9 am in person with video conferencing support. Over the past year, global financial conditions have been accommodative, with the United States implementing three interest rates cuts. China's economic recovery has remained uncertain, weighed down by challenges in the real estate sector and weak domestic demand. Geopolitical risks have escalated ranging from the Russia-Ukraine conflict to the threats posed by the Houthi group to passing vessels leading to the Red Sea crisis, and turbulence in the Middle East. Countries have intervened trade activities through political policy, resulting in a subdued global economic performance. To meet future operational needs and finance the acquisition of newly built vessels, we have decided not to distribute dividends.
Amid accelerating international environmental regulations driving vessel replacement, and with limited additions of new bulk carrier capacity worldwide, overall fleet supply growth remains subdued. In response, Sih Wei Navigation is proactively executing a fleet renewal strategy to enhance operational efficiency and competitiveness. Besides having disposed several tonnages, Shih Wei Navigation expects to take delivery of one newly built energy-efficient vessel this year. Looking ahead, the Company plans to further expand its fleet with additional newbuildings in the coming year. Guided by the commitment to net-zero carbon reduction, Sih Wei Navigation will continue to pursue sustainable growth, strengthen fleet deployment, and optimize its market presence. These initiatives are expected to reinforce the Company’s competitive position and drive long-term operational performance.
* News report
ETtoday 20250625