Yangzijiang Maritime, the listed shipping company led by Ren Yuanlin, has expanded its orderbook with Qidong Qianyao Heavy Industry Co., Ltd. (Qianyao Heavy Industry), bringing the total number of vessels to be built under their partnership to ten.
On June 30, Qianyao Heavy Industry signed a contract with Yangzijiang Maritime to build two 50,000 DWT MR product tankers. Zhou Weibing, Chairman of Qidong Qianyao Heavy Industry, and Ren Yuanlin, Executive Chairman and CEO of Yangzijiang Maritime, attended the signing ceremony.
On the same day, construction officially commenced on two vessels being built by Qianyao Heavy Industry for Yangzijiang Maritime: the first 50,000 DWT MR product tanker and the second 40,000 DWT bulk carrier.
Records indicate that Qianyao Heavy Industry was registered in March 2024; as a new shipyard established just over two years ago, it has already secured orders for multiple new vessels from Yangzijiang Maritime.
In February 2026, Qianyao Heavy Industry and Yangzijiang Maritime launched their partnership by signing a contract for the construction of two 40,000 DWT bulk carriers, with an option for two additional vessels. The cost per vessel is set at US$29 million, with deliveries scheduled between April 2027 and May 2028.
It is worth noting that prior to the announcement of this order, there had been no public record of Qianyao Heavy Industry signing contracts or delivering vessels. This suggests that the initial two bulk carriers for Yangzijiang Maritime likely represent the first major shipbuilding project undertaken by the yard since its inception.
On April 22, 2026, Qianyao Heavy Industry announced the signing of contracts with Yangzijiang Maritime for the construction of two additional 40,000 DWT bulk carriers and four (4+2) 50,000 DWT MR product tankers; Ren Yuanlin and Zhou Weibing attended the signing ceremony together. According to the order announcement disclosed by Yangzijiang Maritime on April 27, the delivery dates for the product tankers are scheduled for 2027–2028, while the bulk carriers are slated for delivery in 2028.
With the addition of the two new vessels finalized just days ago, Yangzijiang Maritime now holds confirmed orders with Qianyao Heavy Industry for a total of 10 ships, comprising four 40,000 DWT bulk carriers and six 50,000 DWT MR product tankers. Qianyao Heavy Industry stated that these new vessels would be designed and built in strict accordance with the latest International Maritime Organization (IMO) standards and environmental regulations, featuring comprehensive upgrades in energy conservation, emission reduction, operational efficiency, and intelligent management.
Yangzijiang Maritime is the latest listed company under the Yangzijiang Shipbuilding Group, with Ren Yuanlin serving as Executive Chairman and CEO. The company focuses on the shipping sector, with core operations encompassing shipping asset investment and vessel financing.
The largest shipbuilding project announced by Yangzijiang Maritime so far this year involves the construction of 12 Very Large Crude Carriers (VLCCs) by Jiangsu Hantong Ship Heavy Industry, with a total contract value of nearly US$1.5 billion. Additionally, the company has placed orders for several 114,000 DWT product/crude oil tankers, 50,000 DWT MR-class product tankers, and 40,000 DWT bulk carriers, all of which are being built by Chinese shipyards.