Yangzijiang Maritime, a publicly listed shipping company led by Ren Yuanlin, known as tChina’s “private-sector shipping magnate,” has once again officially announced a new shipbuilding project, bringing its total order backlog to 111 vessels (including options).
On November 2, Yangzijiang Maritime announced that it had recently signed shipbuilding contracts for 13 vessels (including options) across two ship types, with deliveries expected between 2029 and 2030. All of these new vessels will be built by Chinese shipyards. The project will be financed through a combination of equity co-investment and debt financing; the contract value has not been disclosed.
Specifically, the latest batch of new shipbuilding projects announced by Yangzijiang Maritime primarily concerns the bulk carrier and tanker markets, comprising 4+2 bulk carriers of 82,000 DWT each, as well as 7 LR2 product tankers of 114,000 DWT each.
Yangzijiang Maritime stated that the new vessels will be built in accordance with International Association of Classification Societies (IACS) standards, meeting high-level technical and environmental requirements. They will be equipped with comprehensive energy-saving features, underscoring the company’s commitment to sustainability, operational efficiency, and regulatory compliance.
Yangzijiang Maritime has not disclosed the shipyard(s) contracted to build these new vessels; however, according to market sources, the shipyard in question recently placed orders for 4+2 82,000 DWT bulk carriers with CIMC SOE (CIMC Sinopacific Offshore & Engineering) and for several LR2 product tankers with Jiangsu Haifeng Shipbuilding.
Yangzijiang Maritime has not disclosed the shipyard(s) contracted to build these new vessels. However, according to market sources, the shipyard in question recently secured an order for 4+2 82,000 DWT bulk carriers from Watts Energy & Engineering (WE), as well as orders for several LR2 product tankers from Jiangsu Haifeng Shipbuilding.
It is also worth noting that on October 31, Yangzijiang Maritime placed an order with Jiangsu Haifeng Shipbuilding for four 50,000 DWT MR product tankers. To date, the two parties have signed contracts for a total of 22 product tankers—comprising ten 50,000 DWT vessels and twelve 114,000 DWT vessels—with the total value of the partnership exceeding $1 billion.
Following the finalization of these new orders, Yangzijiang Maritime’s total newbuild portfolio (including options) has reached 111 vessels. This includes 7 vessels already delivered (one of which was delivered to a buyer under a vessel sale agreement); 86 confirmed orders currently under construction (18 of which have been resold, including one delivered to a buyer under a vessel sale agreement); and 18 options. This strategic expansion of the fleet structure is intended to enhance earnings visibility and unlock future growth opportunities.
Executive Chairman and CEO of Yangzijiang Maritime, Mr. Ren Yuanlin said, “Our newbuild strategy is a key differentiator of Yangzijiang Maritime’s business model, enabling us to secure modern vessels at attractive prices and capture value through strategic asset ownership.
Closely integrated with our proactive asset monetisation strategy, this approach allows us to realise value through vessel sales and redeploy capital into newbuild orders, creating a repeatable cycle of investment and growth within the maritime industry.”
Regarding its fleet monetization strategy, Yangzijiang Maritime has signed resale contracts for 18 newbuild vessels over the past 10 months, generating $805 million in proceeds. These include 14 MR product tankers and four 40,000 DWT bulk carriers.
It is understood that Yangzijiang Maritime was spun off from Yangzijiang Financial Holding Ltd.—a separate publicly listed entity under the Yangzijiang Shipbuilding Group—and went public in November 2025. Ren Yuanlin serves as its Executive Chairman and CEO.