Singapore-listed Yangzijiang Maritime Development has returned to Jiangsu Haifeng Shipbuilding for six more product tanker newbuildings in a deal shipbuilding sources put at more than $320m, according to Splash247. The order adds four 50,000 dwt MR tankers and two 115,000 dwt LR2s to the company's reported tanker programme at the yard.
The Ren Yuanlin-led company has been linked to the four MRs and two LR2s, with broker reports placing LR2 deliveries in 2028 and 2029 and the MR quartet scheduled through to 2030, Splash247 reported. Chinese shipbuilding sources broadly place the six-ship delivery programme in 2028 and 2029. No contract price has been disclosed.
Order details
Current market benchmarks cited by Chinese shipbuilding sources put a 47,000-51,000 dwt MR at about $52m and a 113,000-115,000 dwt LR2 at around $78.5m, according to Splash247.
| Vessel type | Size range | Number ordered | Current market benchmark |
|---|---|---|---|
| MR product tanker | 47,000-51,000 dwt | 4 | about $52m each |
| LR2 product tanker | 113,000-115,000 dwt | 2 | around $78.5m each |
Haifeng tanker programme grows to 14 ships
The latest package takes Yangzijiang Maritime's reported tanker programme at Haifeng to 14 ships, according to Splash247. The company had already been linked to four MRs and four LR2s at the yard for delivery from late 2027 through the first quarter of 2029.
Yangzijiang Maritime's reported tanker programme at Haifeng now stands at 14 ships.
Capital cycling and portfolio growth
The fresh orders came days after Yangzijiang Maritime sold four 40,000 dwt bulker newbuilds scheduled for delivery between April 2027 and May 2028. Splash247 reported that the bulker sale took the company's contracted newbuilding sales to $500m across 12 ships in nine months. Yangzijiang Maritime has been rapidly cycling capital between new orders and vessel resales since listing in Singapore last November, according to Splash247. The company's maritime portfolio stood at more than 120 ships at the end of June, including more than 60 newbuildings.
Yard strategy
Haifeng is one of the lower-profile Chinese yards Yangzijiang Maritime has tapped as part of that strategy. The company has said its model targets second- and third-tier Asian yards where its technical and procurement capabilities can help secure newbuildings at costs as much as 20% below prevailing market levels, according to Splash247.
Watch list
- LR2 deliveries in 2028 and 2029, and MR deliveries through 2030, per broker reports cited by Splash247.
- Remaining vessels in the 14-ship Haifeng tanker programme, with previously reported deliveries from late 2027 through the first quarter of 2029.
- Newbuilding price benchmarks, with MRs at about $52m and LR2s at around $78.5m, as cited by Chinese shipbuilding sources.
Sources:
