Yangzijiang Maritime signs $394m vessel sales contracts

The latest deals bring its total contracted sales to $1.03b over 10 months.

Singapore Exchange-listed Yangzijiang Maritime Development Ltd. has signed sales contracts for six newbuild tankers worth an aggregate gross $394.24m (US$308m).

The vessels comprise two medium-range tankers of about 49,500 deadweight tonnes (DWT) each, scheduled for delivery in 2026 and 2027, and four tankers of about 49,800 DWT each, scheduled for delivery in 2027 and 2028.

The latest contracts bring the company's total contracted vessel sales to $1.03b (US$805m) across 18 newbuild vessels over 10 months.

Yangzijiang Maritime said the transactions are expected to contribute positively to its financial performance, subject to completion, delivery schedules, and applicable accounting recognition, barring unforeseen circumstances.

“Our proactive asset monetisation strategy creates a virtuous cycle of value realisation via asset sales and capital reinvestment into new vessel orders,” said Ren Yuanlin, executive chairman and CEO of Yangzijiang Maritime.

(US$1 = SG$1.28)