Yangzijiang’s $450m newbuild spree reshapes dry bulk and tanker markets
Singapore-listed carrier orders 12 vessels at Chinese yards, extending its fleet expansion across bulk and product.
Yangzijiang Maritime Development, listed on the Singapore stock exchange, has expanded its fleet with new orders for up to 12 vessels at two Chinese shipyards. The deals, valued at approximately $450 million, cover both dry bulk carriers and product tankers, reinforcing the company’s growth strategy across multiple maritime segments.
The latest agreements include six confirmed and four optional 64,500 dwt ultramax bulkers at Jingjiang Nanyang Shipbuilding. Additionally, the company secured two 50,000 dwt MR product tankers at Qidong Qianyao Heavy Industry. These orders bring Yangzijiang’s firm commitments at Qidong Qianyao to 12 vessels, consisting of four 40,000 dwt bulkers and eight 50,000 dwt product tankers.
Yangzijiang’s ties with Chinese shipyards run deep. Its predecessor entity had previously commissioned over 10 vessels at Nanyang Shipbuilding, with four MR tankers from that batch later sold to Scorpio Tankers. The first of those vessels was delivered in July.
Yangzijiang Shipbuilding
Expanding fleet strengthens market position: Yangzijiang
The recent orders follow other significant deals, including four MR tankers and two LR2 vessels at Jiangsu Haifeng, valued at over $320 million. The company is also in discussions for four confirmed and two optional 28,000 dwt duplex stainless-steel chemical tankers at Zhoushan Ningxing Shipbuilding.
By the end of June, Yangzijiang’s fleet had grown to more than 120 ships, with over 60 of those being newbuilds. The company’s ability to leverage long-standing relationships with Chinese yards—known for competitive pricing and reliable construction—positions it favorably in a market where shipbuilding capacity remains limited.
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