China’s Yangzijiang Shipbuilding has won orders for 23 newbuildings worth $1.18bn in the first quarter of 2023, according to a regulatory filing.
The Singapore-listed company said this was close to 40% of its annual order target of $3bn.
The newbuildings include 18 product tankers, four bulk carriers and one liquefied ethylene gas (LEG) carrier.
Yangzijiang did not disclose the names of the shipping companies that ordered the newbuildings but industry insiders said the 36,000-cbm LEG carrier was ordered by Ocean Yield.
The Norwegian shipowner now has three gas carriers on order at the Chinese shipyard. Its earlier two vessels — also of 36,000 cbm — were ordered last year against long-term bareboat chartered contracts from New York-listed petrochemical company Braskem.
UK-based Union Maritime is said to have ordered two 114,000-dwt aframax product carriers, while Greece’s Metrostar Management booked two 75,000-dwt LR1 tankers.
Yangzijiang’s orderbook backlog now stands at 147 newbuildings worth $10.98bn, the highest it has ever been. Its newbuilding berths are now said to be booked until 2026.
Container ships make up the bulk of its orderbook, with 82 newbuildings worth $7.83bn. Dual-fuel vessels make up 31 of the boxship newbuildings.
Yangzijiang delivered four bulk carriers and 12 container ships during the first three months of this year.
These included two ultra-large boxships — the 24,364-teu MSC Irina and MSC Loreta (both built 2023) to MSC Mediterranean Shipping Company.
In 2022, it delivered 67 vessels comprising 40 container ships, 20 bulkers, four gas carriers and three tankers.
Going forward, Yangzijiang said it will be selective in contracting newbuildings and will focus on the gas sector, targeting LNG ships, ethylene carriers and dual-fuel vessels.
Meanwhile, Yangzijiang Shipping — the shipyard’s shipowning arm — is selling two vessels — one bulker and one stainless steel tanker. The company said the disposals are designed to upgrade its fleet.
The shipowner owns 23 bulk carriers, two container vessels, three chemical tankers and one multipurpose ship.
