Yangzijiang Maritime, a listed shipping company helmed by Ren Yuanlin—known as China’s “private-sector shipping tycoon”—signed contracts to sell 12 newly built vessels within nine months of its listing, realizing a total of $500 million in cash through a flexible monetization strategy.
Yangzijiang Maritime Development Ltd. (“Yangzijiang Maritime” or the “Company”, and together with its subsidiaries, the “Group”), a one-stop maritime financial solutions provider, announced that the Group has recently signed contracts for the sale of 4 newbuild bulk carriers (approximately 40,000 DWT each), which are slated for delivery between April 2027 and May 2028.
Yangzijiang Maritime did not disclose details regarding the buyer or the shipyard in its announcement; however, the specifications and delivery schedule of the new vessels align with the bulk carrier orders Yangzijiang Maritime holds with Qidong Qianyao Heavy Industry.
In February 2026, Qianyao Heavy Industry and Yangzijiang Maritime launched their first collaboration by signing a contract for the construction of two firm and two optional 40,000 DWT bulk carriers; priced at $29 million per vessel, delivery is scheduled between April 2027 and May 2028. In April, the parties signed a contract for an additional two 40,000 DWT bulk carriers, with delivery planned for 2028.
In addition to announcing the latest vessel sale, Yangzijiang Maritime issued an update on the progress of previously announced vessel sale projects.
Yangzijiang Maritime reported that regarding the sale contracts for four newbuild MR product tankers—originally announced in November 2025—the first vessel was delivered on July 30, 2026; the second is scheduled for delivery in November 2026; and the final two are slated for delivery in 2027. These four newbuilds were ordered by the Monaco-based shipowner and operator Scorpio Tankers and constructed by Jingjiang Nanyang Shipbuilding.
It is also worth noting that the partnership between Yangzijiang Maritime and Scorpio Tankers is deepening. A few days ago, Scorpio Tankers announced an equity investment in a project involving eight newbuild VLCCs; market reports indicate that these vessels are the 319,000 DWT VLCCs that Yangzijiang Maritime had ordered from Nantong Hantong Ship Heavy Industry, with deliveries expected between 2028 and 2030. When the order was first announced, Yangzijiang Maritime stated that the project would be funded through a combination of joint equity investment and debt financing.
As of the announcement date, Yangzijiang Maritime has signed contracts for the sale of 12 newbuild vessels within a nine-month period, with a total transaction value of US$500 million. In addition to the eight vessels previously mentioned, another sales contract—announced in April 2026—covers four 49,800 DWT MR-type product tankers scheduled for staggered delivery between 2027 and 2028.
Yangzijiang Shipbuilding stated that, barring unforeseen circumstances, this series of sales contracts is expected to have a positive impact on the company’s operating results for the 2026, 2027, and 2028 fiscal years, subject to the completion of transactions, vessel delivery schedules, and applicable accounting recognition rules.
Separately, Yangzijiang Maritime has secured charter agreements for 13 vessels in its fleet for the first half of 2026, with charter terms ranging from one to eight years; it also announced orders for multiple new vessels, including VLCCs, product tankers, and bulk carriers.