Singapore-listed Chinese shipbuilder Yangzijiang Shipbuilding has secured $770 million of newbuilding orders during the third quarter of 2023.

The private Chinese shipbuilder Yangzijiang Shipbuilding’s gross profit jumped 48% year-on-year to RMB2.1 billion ($292.7 million) for the first half of this year.

The Chinese private yard Yangzijiang Shipbuilding announced that its orderbook had hit its highest ever value of $14.6bn.

Jiangsu Yangzi-Mitsui Shipbuilding, a unit of Yangzijiang Shipbuilding, has secured 10 plus two 82,500 dwt bulk carriers from Lepta Shipping.

Yangzijiang Shipbuilding posted RMB8.5bn ($1.26bn) revenue for shipbuilding, up 78% year-on-year, on the back of record vessel deliveries in the first half of 2022.

Yangzijiang Shipbuilding has bagged $990m new orders for 16 vessels since the beginning of 2022.

Yangzijiang Shipbuilding is to issue S$50m convertible bonds to strategic investors EDB Investments and Alexandrian Worldwide as it looks to strengthen its position in Singapore’s maritime industry.