China’s Yangzijiang Shipbuilding has secured $11.64bn worth of newbuildings so far this year, exceeding its $4.5bn target.
The Singapore-listed shipbuilder said strong demand for dual-fuel container ships, oil tankers and gas carriers has enabled it to secure 98 newbuildings. Boxships make up 55% of the total, followed by 21 tankers, 16 gas carriers and seven bulkers.
It said 84% of the new orders are classified as eco-friendly vessels, “aligning with the green transition trend”.
Yangzijiang has 224 newbuildings worth $22.14bn on its orderbook, with green vessels accounting for about 75% of the total value.
Container ships make up the bulk of the orderbook — 95 vessels worth $14.98bn — followed by 64 oil tankers worth $3.13bn and 27 gas ships. It has 38 bulk carriers valued at $1.57bn on order.
The shipyard has already committed some of its 2029 berth for the newbuilds.
It said its “strong outstanding” orderbook brings revenue visibility up to mid-2028.
The Jiangsu shipbuilder believes it is on track to achieve its delivery target of 63 vessels this year; it has already delivered 57.
Last month, it delivered the LNG dual-fuel 16,000-teu MSC Siena — the first of 12 boxships that MSC Mediterranean Shipping Company ordered in 2022 for a reported price of more than $180m each.
Yangzijiang thinks oil tankers and gas carriers will fuel future orders.
It said the demand for new tankers is due to fleet renewal programmes and geopolitical disruptions that have altered shipping routes and increased sailing distances.
Strong growth in shale gas production and rising demand for LPG for heating, ventilation and air conditioning will fuel demand for gas carriers.
