Yangzijiang Maritime cashes in on MR newbuilds with $308m sale

Singapore-listed Yangzijiang Maritime Development has struck deals to sell six MR tanker newbuildings for a combined $308m, taking the value of its contracted vessel resales to $805m over the past ten months.

The Ren Yuanlin-led maritime investment group said the latest transactions cover two 49,500 dwt product tankers scheduled for completion between 2026 and 2027 and four 49,800 dwt units due in 2027 and 2028.

The company did not identify the buyers or disclose individual vessel prices.

The latest agreements bring Yangzijiang Maritime’s contracted newbuilding resales to 18 vessels worth a combined $805m, underlining the scale of its strategy of placing orders at Asian shipyards and selling vessels before completion.

Yangzijiang Maritime has rapidly expanded its shipbuilding commitments since listing in Singapore last November, investing across bulk carriers, product tankers, chemical tankers and VLCCs.

In September, the company confirmed another 24 firm ship orders and 16 options, taking its disclosed newbuilding portfolio to 98 vessels, including ships already completed.

The September announcement showed 75 firm vessels under construction, of which 12 had already been resold.

The group has also been building its exposure to the product tanker sector. In August, it was linked to another six-ship package at Jiangsu Haifeng Shipbuilding, comprising four MR tankers and two larger LR2 units, with market estimates putting the investment above $320m.

Yangzijiang Maritime said the latest disposals should contribute positively to its financial performance, although the timing of earnings recognition will depend on completion of the transactions and the agreed vessel schedules.

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