On May 22, China’s largest private shipbuilder Yangzijiang Shipbuilding (Holdings) Ltd. (the “Company”) released the “Business Update Announcement for the First Quarter of 2025”. As of May 22, 2024, Yangzijiang Shipbuilding’s backlog of orders reached 8.73 million gross tons (230 ships) with an order value of US$23.19 billion, and the delivery date is scheduled to 2030. Since the beginning of this year, Yangzijiang Shipbuilding has signed 6 new orders worth US$290 million, including 4 container ships and 2 bulk carriers.
Backlog of orders: 230 ships/value US$23.19 billion
The announcement disclosed that as of May 22, 2025, Yangzijiang Shipbuilding has accumulated 230 orders with a value of US$23.19 billion, with delivery scheduled until 2030. Clean energy ship orders account for about 74%, Covering container ships, bulk carriers, gas carriers and tankers and other ship types, as follows:
The container ship order book reached 5.5 million compensated gross tonnage (CGT, 100 ships) with a value of US$15.9 billion, including 10 24,000TEU LNG dual-fuel powered container ships, 28 17,000TEU LNG dual-fuel powered container ships, 6 16,000TEU LNG dual-fuel powered container ships, 10 9,000TEU LNG dual-fuel powered container ships, 2 8,000TEU LNG dual-fuel powered container ships, 17 13,000TEU methanol dual-fuel powered container ships, 12 9,000TEU methanol dual-fuel powered container ships, 9 8,000TEU container ships, 2 4,488TEU container ships, 2 4,300TEU container ships and 2 3,000TEU container ships.
The order book for bulk carriers reached 850,000 CGT (39 ships) with a value of US$1.63 billion, including three 32,000 DWT bulk carriers, three 45,000 DWT bulk carriers, two 66,000 DWT bulk carriers, five 80,000 DWT bulk carriers, 19 82,500 DWT bulk carriers and three Combination 83,300 DWT bulk carriers.
The order book for LPG/LEG/VLEC/VLAC carriers reached 660,000 CGT (26 ships) with a value of US$2.38 billion, including 2 36,000 cubic meter LEG carriers, 5 100,000 cubic meter VLECs, 3 25,000 cubic meter LPG carriers, 10 40,000 cubic meter LPG carriers, 2 48,000 cubic meter LPG carriers and 4 88,000 cubic meter VLACs.
The tanker order book reached 1.72 million CGT (65 ships) with a value of US$3.28 billion, including 4 39,000 DWT MR product tankers, 3 40,000 DWT MR product tankers, 25 50,000 DWT MR product tankers, 4 74,000 DWT LR1 product tankers, 24 75,000 DWT LR1 product tankers, 3 114,000 DWT LR2 product tankers and 2 114,000 DWT methanol reserved LR2 product tankers.
New orders undertook: 6 ships/valued at US$290 million
According to the announcement, Yangzijiang Shipbuilding has received a total of 6 new ship orders worth US$290 million this year, including 2 3000TEU container ships, 2 4488TEU container ships, and 2 83,000 DWT bulk carriers, achieving about 5% of the annual order target. Among them, two 4488TEU container ships are from Thailand’s Reliable Container Lines (RCL), and the owner information of the remaining four new ships has not yet been made public.
In the same period last year, Yangzijiang Shipbuilding received 38 new ship orders worth US$3.32 billion during the statistical period from the beginning of the year to May 24, achieving about 74% of its annual order target. In contrast, the private shipbuilding giant’s order-taking speed has slowed down significantly.
Delivery of 21 new ships
Since the beginning of the year, Yangzijiang Shipbuilding has completed and delivered a total of 21 new ships, realizing about 38% of the annual target of 56 deliveries, including 8 container ships, 7 bulk carriers, 1 gas carrier and 7 tankers/chemical tankers.