Yangzijiang Maritime adds 10 new vessels, pushing order book to 53

[SINGAPORE] Maritime financial-solutions provider Yangzijiang Maritime on Monday (Apr 27) announced that it placed newbuilding orders with Chinese shipyards for 10 vessels.

Following the delivery of these vessels between 2027 and 2029, the group’s total fleet will grow to 105 vessels, of which 53 are now being built.

The group’s latest newbuild orders are:

• Four product or crude tankers of around 114,000 deadweight tonnage (DWT), each with deliveries scheduled in 2028 and 2029;
• Four product oil or chemical tankers of around 49,800 DWT, with deliveries scheduled in 2027 and 2028; and
• Two bulk carriers of around 40,000 DWT, scheduled to be delivered in 2028.

These newbuilds will be funded through a combination of equity co-investment and debt financing, noted the company.

Executive chairman and chief executive officer of Yangzijiang Maritime, Ren Yuanlin, said that the vessels are built in compliance with Phase 3 Energy-Efficiency Design Index standards and methanol fuel readiness for 49,800 DWT type.

This positions the vessels “favourably for a market increasingly shaped by environmental regulation”, he noted.

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“In line with our capital-cycling model, we will evaluate leasing, chartering and selective predelivery resale opportunities to optimise returns for our shareholders,” he added.

The counter closed 2.2 per cent or S$0.015 lower at S$0.66 on Monday before the announcement.