Chinese shipbuilder YZJ Shipbldg SGD announced it has secured six vessel orders worth US$300 million in the first quarter of 2025, accounting for 5% of 6 billion annual target.

In its quarterly business update on Thursday (May 22), the company noted a significant slowdown compared to the same period last year, when it won orders for 38 vessels worth US$3.3billion—74% of its target, its strongest performance since going public in 2022.

Executive Chairman and CEO Ren Letian attributed the weaker demand to U.S. policies and global trade tariffs, which have led customers to adopt a wait-and-see approach, delaying new vessel commitments.

Despite the softer order intake, the shipyard reported steady progress in vessel deliveries, with no delays or cancellations so far. It has delivered 21 ships (38%) of its 56-vessel target for the fiscal year and remains on track to meet its 2025 delivery goals.

"With a strong order backlog ensuring revenue visibility through 2028, we are maintaining a cautious stance while closely monitoring market trends," Ren added.

Yangzijiang’s current orderbook stands at 230 vessels worth US$23.2 billion, scheduled for delivery between 2025 and 2030. The majority (100 ships) are container vessels.