Yangzijiang Maritime, a publicly traded shipping company led by Ren Yuanlin—known as “China’s Private Shipping Giant”—has formally signed contracts for the construction of 24 new vessels of various types, all to be built by Chinese shipyards, and has also placed orders for 16 optional vessels.
On September 18, Yangzijiang Maritime, a publicly traded company under the Yangzijiang Shipbuilding Group, announced that it had recently signed contracts for the construction of 24 new vessels of various types, with delivery expected between 2028 and 2030. The new vessels will be built by multiple Chinese shipbuilders, and funding will be raised through a combination of joint equity investment and debt financing. The construction costs have not yet been disclosed.
This batch of new vessels includes a variety of ship types, specifically: 64,500 DWT bulk carriers, scheduled for delivery in 2029 and 2030; 49,800 DWT refined oil/chemical tankers, scheduled for delivery between 2028 and 2030; 4 28,000 DWT stainless-steel chemical tankers, scheduled for delivery in 2028 and 2029; 4 29,000 DWT stainless-steel chemical tankers , scheduled for delivery in 2028 and 2029; and 4 319,000 DWT very large crude carriers (VLCCs) , scheduled for delivery in 2029 and 2030.
Yangzijiang Maritime stated that the new vessels will be built in accordance with International Association of Classification Societies (IACS) regulations, as well as high-tech and environmental standards, and will be equipped with comprehensive energy-saving navigation features, demonstrating the company’s commitment to sustainability, operational efficiency, and compliance.
In addition to ordering 24 new vessels, Yangzijiang Maritime has signed options for 16 additional vessels, enabling the company to retain the capacity to further expand its fleet when market conditions are favorable, while ensuring an orderly expansion and limiting upfront capital investment.
As of now, Yangzijiang Maritime’s total order backlog for new shipbuilding projects (including options) has increased to 98 vessels, specifically including: 7 newly built vessels already delivered (including 1 vessel delivered to the buyer under a ship sale contract); 75 confirmed vessels under construction (of which 12 have been resold, including 1 vessel delivered to the buyer under a ship sale contract); and 16 option vessels to capitalize on future market-driven strategic growth opportunities.
Regarding this batch of new vessels, Ren Yuanlin, Executive Chairman and CEO of Yangzijiang Maritime, stated: “With the support of our long-term joint investment partners, we continue to identify high-quality opportunities in the shipping market. The addition of these 24 newly built vessels demonstrates the company’s determination to capitalize on market opportunities. We will focus on mature, environmentally compliant vessel designs to meet the evolving needs of the shipping industry, which is increasingly influenced by environmental regulations and is transitioning toward low-carbon shipping. ”
Ren Yuanlin also noted: “This new fleet will further expand and optimize our fleet structure, promising clearer profit prospects and long-term growth opportunities. In line with our proactive monetization strategy, we will continue to actively evaluate leasing and resale opportunities to optimize returns for our shareholders.”
Concerning fleet monetization strategies, since November 2025, Yangzijiang Maritime has signed contracts to sell 12 newly built vessels, raising a total of $500 million, including eight 49,800 DWT product/chemical tankers and four 40,000 DWT bulk carriers. The first of these product/chemical tankers was delivered on July 30, 2026, to Scorpio Tankers, a Monegasque shipowner and operator, and the remaining 11 vessels are scheduled for delivery to their new owners between 2027 and 2028.
Additionally, in the first half of 2026, Yangzijiang Maritime entered into charter agreements for 13 vessels in its fleet, including 12 oil tankers, chemical tankers, and product tankers, as well as one multi-purpose workboat, with charter terms ranging from 1 to 8 years.
According to reports, Yangzijiang Maritime positions itself as a strategic hub connecting shipbuilders, shipowners, charterers, and capital markets, and as a one-stop provider of maritime financial solutions. The company’s business model is based on two key pillars: identifying high-potential maritime investment projects, including the acquisition of maritime assets at favorable prices; and unlocking value through flexible asset monetization strategies, such as vessel resale, charter income, and capital management.