In a bourse filing on April 16, Yangzijiang (YZJ) Maritime Development shares that it has signed contracts for the sale of four new medium-range (MR) tankers of 49,000 deadweight tonnage (DWT) each.
Slated for delivery in 2027 and 2028, the four MR tankers are expected to contribute positively to the maritime investment firm’s financial performance, subject to completion, delivery schedules and applicable accounting recognition and barring unforeseen circumstances, according to the company.
YZJ Maritime adds that the sales highlight its ability to create and deliver value across the maritime value chain as well as generating “healthy” capital gains through “disciplined” vessel monetisation.
Executive chairman and CEO of YZJ Maritime Ren Yuanlin says that the deals represent the soundness and replicability of its vessel monetisation strategy which has unlocked value across its portfolio while enhancing earnings visibility for FY2026 and FY2027. “We continue to see attractive opportunities across the maritime value chain, supported by favourable industry dynamics and structural tailwinds,” says Ren.
“Our ability to source opportunities, secure attractive construction economics and monetise vessels at the right point in the maritime industry cycle is a core differentiator of Yangzijiang Maritime.
“Supported by our diversified fleet, robust newbuilding pipeline and established global network, we believe we are well-positioned to continue delivering sustainable returns and long-term value for our shareholders.”
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In the same filing, the company also announced that it is investing in eight newbuild very large crude carriers (VLCCs) of approximately 319,000 DWT each. The vessels are funded through a combination of equity co-investment and debt financing and slated for delivery in between 2028 to 2030.
YZJ Maritime says that each VLCC is built to the latest energy-efficiency standards, featuring a fuel-optimised hull form, an electronically-controlled main engine and energy-saving devices designed to achieve an energy efficiency design index (EEDI) rating that meets or exceeds Phase 3 requirements under International Maritime Organisation (IMO) regulations.
Another sustainability feature installed in the vessels include scrubbers that enable compliance with the IMO 0.5% global sulphur cap while enabling the vessels to retain the operational flexibility to burn high-sulphur fuel oil and support fuel cost optimisation across varying market conditions.
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The Edge Singapore understands that the sale and purchase prices of the afore-mentioned transactions could not be shared due to commercial sensitivities.
Shares in YZJ Maritime closed one cent, or around 1.5% lower at 67.5 cents on April 16.
