Yangzijiang Shipbuilding announced that it has obtained about US$2.2 billion worth of orders in the year to date.
This was a fifth of the US$11.6 billion in order wins recorded in the same period the year before.
The orders largely comprise small to mid-sized vessels, scheduled for delivery between 2027 and 2029, said the shipbuilder.
In the first quarter, it said its order book target for the 2025 financial year was US$6 billion. It also posted a drastic cut in its order wins then, with orders worth US$300 million in the period compared to US$3.3 billion in Q1 2024.
Green vessels accounted for 71 per cent of its overall outstanding order book value, which stood at about US$22.8 billion from 245 vessels. Container ships remained the dominant vessel type, with a US$16.2 billion share across 126 vessels.
The shipbuilder added that it has delivered 46 vessels in the year to date, out of a target of 56 for the entire financial year.
Executive chairman and CEO Ren Letian said “greater clarity” in the global macroeconomic outlook translated into an improvement in customer sentiment and a modest recovery in order momentum.
However, he cautioned that the industry-wide order backlog remained at historical highs, with lead times stretching close to five years and limited delivery slots available for large-sized vessels in “tier-one” shipyards.
“Both shipowners and shipyards continue to adopt a prudent approach towards deliveries for 2030 and beyond,” he added. “The group remains focused on executing our order book with high quality and on-time delivery.
Source: The Business Times