In a bourse filing on Sept 18, Yangzijiang (YZJ) Maritime Development has ordered a total of 24 newbuild vessels to be constructed by various Chinese shipyards with deliveries scheduled between 2028 to 2030.
The newbuilds will be funded through a combination of equity co-investment and debt financing. Including options for another 16 vessels, these orders will increase YZJ Maritime’s newbuilds portfolio to a total of 98 vessels.
YZJ Maritime has delivered seven newbuilds so far, with one delivered to its buyer under a vessel sale contract. Under construction are 75 vessels with 12 resold including one under a vessel sale contract.
The 24 newbuilds will be constructed in accordance with International Association of Classification Societies (IACS) classification standards, high technical and environmental standards as well as being equipped with comprehensive eco-friendly features, says YZJ Maritime.
YZJ Maritime executive chairman Ren Yuanlin says that the company continues to see “attractive opportunities” emerging across the maritime industry. “The addition of these 24 newbuild vessels underscores our confidence in the sector and our commitment to harness these opportunities with a focus on proven, eco-compliant vessel designs that meet the evolving requirements of a maritime industry increasingly shaped by environmental regulations and the transition towards lower-emission shipping,” he remarks.
Ren adds: “These newbuilds will further expand, strengthen and modernise our fleet composition with potential of stronger earnings visibility and long-term growth opportunities. Aligned with our proactive monetisation strategy, we will continue to proactively evaluate leasing and resales opportunities to optimise returns for our shareholders.”
Source: THE EDGE SINGAPORE