Yangzijiang Maritime Signs Contracts for Sale of Four Vessels Worth US$180 Million

TigerNews SG

Nov 18

Yangzijiang Maritime Development has entered into contracts to sell four new medium-range tankers (49,800 DWT) for a total of US$180 million. The agreements, made with a Marshall Islands-based shipowner, align with the company's strategy to optimize its maritime investment portfolio and unlock value.

The tankers are currently under construction at a Chinese shipyard, with deliveries expected between 2026 and 2027.

Additionally, Yangzijiang Maritime has signed letters of intent (LOIs) for joint ventures to construct eight new vessels, including four medium-range tankers (49,800 DWT) and four bulk carriers (40,000 DWT). The tankers were contracted with a European shipowner, while the bulk carriers were secured with a Singapore-based counterpart.

These vessels will be built at two Chinese shipyards, with deliveries scheduled between 2027 and 2028. Yangzijiang Maritime will hold majority equity stakes in these joint ventures.

Ren Yuanlin, Executive Chairman and CEO of Yangzijiang Maritime, stated, "These transactions represent a significant milestone in our strategic evolution as a one-stop maritime financial solutions provider."

He added, "Leveraging our strong balance sheet and favorable industry trends, we remain committed to disciplined capital deployment, fleet optimization, and sustainable investments in modern, eco-friendly vessels."

Shares of Yangzijiang Maritime will commence trading on the Mainboard at 9:00 AM on November 18.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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The tankers were contracted with a European shipowner, while the bulk carriers were secured with a Singapore-based counterpart.\nThese vessels will be built at two Chinese shipyards, with deliveries scheduled between 2027 and 2028. Yangzijiang Maritime will hold majority equity stakes in these joint ventures.\nRen Yuanlin, Executive Chairman and CEO of Yangzijiang Maritime, stated, \"These transactions represent a significant milestone in our strategic evolution as a one-stop maritime financial solutions provider.\"\nHe added, \"Leveraging our strong balance sheet and favorable industry trends, we remain committed to disciplined capital deployment, fleet optimization, and sustainable investments in modern, eco-friendly vessels.\"\nShares of Yangzijiang Maritime will commence trading on the Mainboard at 9:00 AM on November 18.","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":true,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"corporation","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}