Yangzijiang Maritime Development has signed contracts for the sale of four new medium range tankers (49,800 DWT) for US$180 million ($234.5 million). The contracts, signed with a Marshall Islands-based shipowner, is part of the maritime financial solutions provider’s ongoing portfolio optimisation strategy to unlock value of its maritime investment portfolio.
The tankers are being built at a Chinese shipyard and are scheduled to be delivered between 2026 and 2027.
In addition, Yangzijiang Maritime has signed letters of intent (LOIs) for joint ventures to build eight vessels comprising four new medium range tankers (49,800 DWT) and four new bulk carriers (40,000 DWT). The four new medium range tankers were signed with a European shipowner while the bulk carriers were signed with a Singapore-based shipowner.
These vessels will be built at two Chinese shipyards and are slated to be delivered between 2027 and 2028. Yangzijiang Maritime will have majority equity interests in these joint ventures.
“These transactions mark important progress in Yangzijiang Maritime’s strategic journey as a one-stop maritime financial solutions provider,” says Ren Yuanlin, executive chairman and CEO of Yangzijiang Maritime.
“Capitalising on structural maritime tailwinds with our strong balance sheet, we are focused on optimising our fleet size with a disciplined capital approach, reinforcing sustainable growth and investments in modern, eco-friendly vessels,” he adds.
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Shares in Yangzijiang Maritime will trade on the Mainboard at 9am on Nov 18.
