Yangzijiang Maritime Development has announced that it is investing in eight very large crude carrier (VLCC) newbuilds of approximately 319,000 DWT each.
These vessels are scheduled for delivery in 2028, 2029, and 2030, with construction assigned to an unnamed Chinese shipyard. The acquisition will be funded through a combination of equity co-investment and debt financing.
According to Yangzijiang, each vessel will feature a fuel-optimised hull form and an electronically-controlled main engine. The tankers will also be equipped with an exhaust gas cleaning system.
Separately, the group signed contracts for the sale of four new medium-range tankers of 49,800 DWT. These vessels are slated for delivery in 2027 and 2028.
The company stated it expects the vessel sale transactions to contribute positively to its financial performance. Executive Chairman and Chief
Executive Officer Ren Yuanlin said, “This transaction reflects our disciplined approach in realising capital gains through timely asset monetisation at opportune points in the market cycle, while enhancing overall portfolio returns.”
Ren further remarked, “We are able to unlock value across our maritime portfolio while reinforcing earnings visibility for FY2026 and FY2027.” The company noted that current industry conditions continue to present attractive opportunities for capital recycling.