Yangzijiang Shipbuilding’s order book swells to record $21.7 billion 

SINGAPORE – Yangzijiang Shipbuilding’s order book now stands at a record US$16.1 billion (S$21.7 billion) as at May 24.

The mainboard-listed shipbuilder said in a quarterly update on May 27 that it now has a backlog of 193 vessels to be delivered by 2028.

Container ships made up the largest number (66 worth US$9.3 billion), followed by oil tankers, bulk carriers, and gas and ethane carriers.

The previous record of US$14.5 billion for 182 vessels was at end-2023.

The strong order book brings revenue visibility up to 2027, it said.

It is on track to achieve delivery targets for its 2024 financial year, with 28 vessels delivered out of a goal of 63. The group delivered 57 vessels in 2023 and 67 in 2022.

It said it has already hit 74 per cent of its order win target, year to date, with 38 vessels at a combined contractual value of US$3.3 billion.

Around 54 per cent of the new order wins are for greener vessels, using engines that can run on alternative fuels such as methanol or liquified natural gas, which aligns with a trend in the maritime industry.

The shipyard built the methanol dual-fuel cargo vessel used by

Singapore carrier X-Press Feeders

, which carried out Asia’s first simultaneous methanol bunkering and cargo operations in Tuas Port on May 27.

Yangzijiang shares rose six cents, or 3.1 per cent, to $1.99 on May 28.

THE BUSINESS TIMES