YZJ Maritime's stock price surged 3.82% during intraday trading on Wednesday, following the announcement of significant new business contracts.

The company disclosed on Tuesday that it has secured leasing agreements valued at US$89.8 million covering a total of 13 vessels. The contracts, which have lease periods ranging from one to eight years, include 12 oil, chemical and product tankers, and one anchor handling tug supply vessel.

This substantial new business is likely driving positive investor sentiment, as the agreements represent a significant revenue stream for the maritime company over the coming years.