[SINGAPORE] Maritime financial solutions provider Yangzijiang Maritime (YZJ Maritime) on Wednesday (Jan 14) announced that it placed newbuilding orders with three Chinese shipyards for a total of 16 vessels.
It comprises six firm orders with an option for another 10 vessels.
A newbuilding order refers to a formal contract placed by a shipowner with a shipyard to construct an entirely new vessel, such as a container ship, tanker or bulk carrier.
The group’s latest orders are:
- Two firm orders and two options for bulk carriers of around 40,000 deadweight tonnage (DWT) each. They are scheduled for delivery between Apr 28, 2027, and May 28, 2028.
- Two firm orders and six options for mid-range product tankers of around 49,800 DWT each. They are scheduled for delivery between Nov 15, 2027, and Feb 15, 2029.
- Two firm orders and two options for long-range 2 (LR2) tankers of about 114,000 DWT each. They are scheduled for delivery between Mar 30, 2028, and Sep 26, 2029.
The newbuilding portfolio of the group will increase to a total of 50 vessels, including options, with this move.
It comes on the back of two newbuildings being successfully delivered; 34 firm newbuildings under construction, including the latest six firm orders; and 14 optional newbuildings, including the latest 10 options.
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Ren Yuanlin, executive chairman and chief executive of YZJ Maritime, said: “Our newbuilding orders will have integrated eco-features, aligning with International Maritime Organization requirements, while improving fuel efficiency and operational performance.”
YZJ Maritime is a spinoff from the maritime investment segment of YZJ Financial. Similarly, YZJ Financial itself was also spun out of YZJ Shipbuilding in 2022.
The maritime company debuted on the Singapore Exchange mainboard on Nov 18 last year. It had raised gross proceeds of at least S$5.2 million via a private placement of around 8.6 million fully paid ordinary shares at S$0.60 apiece.
Shares of YZJ Maritime were trading 0.8 per cent or S$0.005 lower at S$0.62 as at 1.37 pm on Wednesday.
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