On April 11, Yangzhou Ryuwa Shipbuilding Co., Ltd. (Yangzhou Ryuwa Shipbuilding) signed a contract with Yangpu Zhongxin Shipping Co., Ltd. (Yangpu Zhongxin Shipping) for the construction of 3+2 114,000 DWT LR2 oil tankers, with a total contract value of 2 billion yuan (approximately $293 million). With this latest shipbuilding contract, Ryuwa Shipbuilding currently has a order backlog of nearly 30 vessels, with delivery schedules extending through 2029.
This order is of significant importance to Yangzhou Ryuwa Shipbuilding, as it represents the largest-tonnage vessels the shipyard has ever undertaken in its 40-year history. The new vessels will measure 249 meters in length and 44 meters in width. They feature eco-friendly designs aimed at achieving energy conservation and emissions reduction, and will be built to ice-class standards.
According to records, Yangzhou Ryuwa Shipbuilding was established in April 2006 with a registered capital of $25 million.
As a private/Sino-foreign joint venture shipbuilding company, Yangzhou Ryuwa Shipbuilding is located in the shipbuilding industry belt of Jiangdu Economic Development Zone, Yangzhou City, Jiangsu Province. It is equipped with core facilities such as a dry dock, large gantry crane, hull processing center, intelligent welding workshop, painting workshop, outfitting quay, etc. It has complete shipbuilding equipment and mainly builds various types of ships under 100,000 tons. Its annual shipbuilding capacity is about 800,000 deadweight tons. The main ship types it builds include Ultramax bulk carriers, green container ships, river-sea direct bulk carriers, chemical tankers, etc.
According to a previous statement by a representative of Yangzhou Ryuwa Shipbuilding, the shipyard is stepping up cooperation with universities and research institutes to develop and build new types of green vessels, accelerate the upgrading and iteration of ship designs, and, with a focus on improving shipbuilding efficiency, expedite the intelligent transformation of manufacturing processes and digital transformation. Through collaboration with multiple universities and research institutes, the shipyard has resolved technical challenges such as welding processes and quality control, and has subsequently built a variety of green vessels, including methanol-powered container ships and a series of LNG dual-fuel bulk carriers designed for direct river-to-sea transport.
Founded in 2021, Yangpu Zhongxin Shipping is a privately owned shipping company currently transitioning from a single-vessel bulk carrier operator to a green, diversified fleet. It is an emerging shipowner that has rapidly risen to prominence in recent years amid the rapid development of the Hainan Free Trade Port. It is reported that the company has placed an order with Jiangsu Dayang Offshore Equipment Co.,Ltd(DYOE) for two 50,000 DWT oil and chemical tankers, both of which are currently under construction and are expected to be delivered between late 2026 and the first half of 2027.