Yangzijiang Shipbuilding books $7.1 billion of newbuilds in 2023

Revenue for the whole year rose 16.5% to RMB24.1 billion, and gross profit margin up to 22.4% in FY2023 from 15.4% in FY2022.

Yangzijiang has an outstanding orderbook of $14.5 billion for 182 units of vessels as the end of 2023. A total of 97 newbuild orders totaling in $7.1 billion were secured in 2023, enabling Yangzijiang earnings visibility up until 2027.

Yangzijiang Shipbuilding said that the global outlook for the shipbuilding segment remains upbeat as a result of ongoing climate-related regulatory push by various authorities.

“Maritime decarbonisation will remain the key growth driver for the industry in the mid-term. With the tightening of policies being more apparent now, ship operators are accelerating their vessel replacement plans to avoid potential financial impact from non-compliance,” said CEO and executive chairman Ren Letian, “With our technical capabilities, Yangzijiang Shipbuilding is well-positioned to ride on this upward trajectory and support the industry’s transition.”