Yangzijiang Maritime has ordered 11 additional newbuild vessels, bringing its total newbuilding portfolio to 111 vessels, including options.
The latest orders comprise four bulk carriers of approximately 82,000 DWT (deadweight tonnage) each and seven long-range 2 (LR2) tankers of approximately 114,000 DWT each. The orders are scheduled to be delivered in 2029 and 2030.
The orders for the four bulk carriers also come with options for two additional similar bulk carrier newbuilds.
The latest newbuilds will be funded by a mix of equity co-investment and debt financing.
“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,” says executive chairman and CEO Ren Yuanlin.
“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,” he adds.
Shares in Yangzijiang Maritime closed 1.5 cents lower or 2.54% down at 57.5 cents on Nov 2.
Source: The Edge Singapore