Yangzijiang Maritime has officially endorsed a major shipbuilding program and announced 24 new ship orders in various types. This Singapore-based maritime investment group is changing its path in the shipping and transportation industry with this program.
Details of the New Orders
According to the announced information, the new order package includes six cargo ships with a capacity of 64,500 tons, six product and chemical tankers with a capacity of 49,800 tons, four stainless steel chemical tankers with a capacity of 28,000 tons, four stainless steel chemical tankers with a capacity of 29,000 tons, and four VLCCs with a capacity of 319,000 tons. These ships will be built in several unspecified shipyards in China.
The delivery of these ships will take place between 2028 and 2030. Overall, this program is financed through a combination of joint investment and debt financing. Yangzijiang Maritime has not yet disclosed the contract values or the types of the 16 options.
The Impact of This Program on the Maritime Industry
This new construction program represents a transformation in the order book of this company. According to reports, this group, led by Ren Yuanlin, has signed six cargo ships of 64,500 tons and four additional optional ships at the Jingjiang Nanyang shipyard and two 50,000-ton ships in the Kidong heavy industry this month. The value of these contracts is estimated to be around $450 million.
Additionally, six 49,800-ton ships in the latest SGX announcement align with two Kidong units and four MR previously attributed to Haifeng shipbuilding. This Haifeng deal is part of a larger package that also includes two LR2s with a capacity of 115,000 tons.
The new shipbuilding program, especially in the oil tanker sector, represents a significant step for Yangzijiang Maritime. Last April, the company officially announced eight VLCCs with a capacity of 319,000 tons, which are also expected to be delivered between 2028 and 2030. With the addition of four more ships to this program, the total number of ships approved by the company in this sector reaches 12 ships.
These developments have a significant impact on the shipbuilding portfolio of Yangzijiang Maritime. After this new round of orders, the company now has 98 new ships under construction, including seven ships that have already been delivered, 75 firm units under construction, and 16 optional ships. Of these, twelve firm ships have already been sold, including one ship that has been delivered to its buyer.
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