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Yangzijiang Shipbuilding inks $770 million of newbuild orders in Q3

Photo: Yangzijiang Shipbuilding Yangzijiang Shipbuilding (002).png
Singapore-listed Chinese shipbuilder Yangzijiang Shipbuilding has secured $770 million of newbuilding orders during the third quarter of 2023.

The contracts consist of six LNG carriers and eight oil/chemical tankers including 50,000 tonnes-class MR tankers, 75,000 tonnes-class LR1 tankers and 40,000 cu m LPG carriers. 

Newbuilding orders as whole have been dominated by the container and gas shipping sectors over the last two years, however, there are now also a growing number of crude and product tanker contracts being placed.

As the end of the first nine months, Yangzijiang Shipbuilding has delivered 42 vessels, accounting for 74% of the company’s annual vessel delivery target. The company’s orderbook is at an all-time high of $14.8 billion, a strong earnings visibility up until middle 2027.

Vessels with a clean energy component such as dual-fuel account for around 58% of the total outstanding orderbook value of Yangzijiang.