Yangzijiang Shipbuilding sees strong performance in H1

Following a strong year of 2022, the group maintained its robust financial performance in the first half. Total revenue increased by 16% year-on-year to RMB11.3 billion on the back of increased shipbuilding activities. Revenue from the core shipbuilding business improved in line with the heightened progressive construction activities with top-line contributions reaching a record high of RMB10.7 billion in the first half, up 25% year-on-year. 

As Yangzijiang’s strategic inroads into green shipbuilding in recent years, its orderbook composition has been progressively transformed, with more weightage towards clean vessel types. As of 30 June 2023, the group secured new contract wins of $5.76 billion for 72 vessels. Notable new orders include ten LNG dual-fuel containerships and ten methanol dual-fuel containerships. 

As of the end of the first half, Yangzijiang's total order book amounted to $14.70 billion for a total of 181 vessels. Clean energy vessel orders have experienced a significant increase, representing 56% of the total contract value, compared to the 23% recorded 12 months ago. 

Listen to a podcast on the outlook for shipbuilding

“With 181 vessels to be delivered, we are looking at multiple ways of improving our operational efficiency and overall project management. Now with concrete targets and milestones laid out by the IMO, we will no doubt see an accelerated pace of fleet decarbonisation among global ship liners. Yangzijiang will continue to benefit from this paramount transition where we expect sustained demand for clean fuel vessels for the years ahead,” said Ren Letian, CEO, Yangzijiang Shipbuilding.

Related:Yangzijiang’s orderbook hits a new high of $14.6 billion