Yangzijiang Shipbuilding has reported an outstanding orderbook of US$23.2 billion ($29.96 billion) as at May 22, in its 1QFY2025 business update.

The group reported y-t-d order-win of US$290 million, with a target of US$6 billion by FY2025.

For the 1QFY2025, 21 vessels have been delivered y-t-d fulfilling 38% of its FY2025 target of 56 vessels.

The group’s fleet portfolio stood at 33 with an average age of 7.75 years as at end March. The group disposed of two barge carriers in February.

On its growth plans, the group’s Project Hongyuan which is the building of a green high-tech clean energy shipbuilding base worth the size of 866,671 metre square, is scheduled for completion by end 2026.

Yangzijiang’s LNG Terminal business which comprises a LNG terminal, and LNG storage tank facilities, is under construction and scheduled for completion by 1H2027.

Ren Letian, executive chairman and CEO of Yangzijiang Shipbuilding said that the recent USTR policies and global tariff actions have prompted their customers to adopt a wait-and-see approach, pushing back their ordering decisions.

Shares in Yangzijiang Shipbuilding closed 1 cent higher or 0.469% up at $2.14 on May 22.