Yangzijiang Shipbuilding's order book hits record $16b

The offices of shipbuilder Yangzijiang Shipbuilding Holdings Co Ltd, based in Jingjiang city – administered by Taizhou city, in East China's Jiangsu province – have been abuzz in recent days with positive news.

With 28 ships delivered so far this year, representing 44 percent of the annual target, the company has just posted a revised order backlog of 193 vessels totaling 7.45 million compensated gross tons – valued at a whopping $16.08 billion.

This is said to demonstrate the company's stable business and sustainable development capabilities, with delivery schedules now running to 2028.

Cranes swing into action at a busy shipyard run by Yangzijiang Shipbuilding Group. [Photo/zhjjwx.jsjjw.cn]

One of its subsidiaries – Jiangsu New Yangzi Shipbuilding Co Ltd – is moving things up. It's just delivered the first 1,260 twenty-foot equivalent unit or TEU methanol dual-fuel container ship and secured orders for three of the world's biggest 99,000 cubic meters, ultra-large ethane carriers from Singapore's SP Chemicals.

That's seen a groundbreaking move, in as much as it's the country's first private shipyard to undertake such a construction.

As the global shipping industry steers towards reducing greenhouse gas emissions, the shipbuilding market is shifting towards green vessels.

In recent years, Yangzijiang Shipbuilding Holdings has intensified its efforts in clean energy ship construction, securing orders valued at $3.32 billion, 74 percent of its $4.5 billion target for 2024.

Notably, about 54 percent of these orders are for eco-friendly vessels, showcasing the company's commitment to high-end, intelligent and green practices – driving new development momentum and sustaining growth.