Despite the global shipbuilding market facing overall pressure due to geopolitical tensions, Yangzijiang Shipbuilding still delivered a standout performance in the first quarter.

On May 19, Yangzijiang Shipbuilding disclosed that its new contract orders since the beginning of the year have reached $1.03 billion, driving the total value of its outstanding order book up to $22.3 billion, bringing it one step closer to its order intake target of $4.5 billion for the 2026 fiscal year.

The announcement revealed that the 24 newly contracted vessels are mostly small and medium-sized models, covering 19 container ships, 4 oil tankers, and 1 bulk carrier.

Among the current outstanding order book of 252 vessels, container ships rank first with 146 units valued at $16.41 billion; followed by 26 liquefied petroleum gas (LPG) and other gas carriers valued at $2.36 billion, 38 oil tankers valued at $1.91 billion, and 42 bulk carriers valued at $1.62 billion.

Furthermore, clean-energy vessels account for a high proportion of 69%, highlighting the company's clear trend toward transforming into green shipbuilding.

As of this year, Yangzijiang Shipbuilding has delivered 17 vessels, achieving 29% of its delivery target of 58 vessels for the 2026 fiscal year.

Ren Letian, Chairman and CEO of Yangzijiang Shipbuilding, stated that the recent escalation of geopolitical tensions has made some customers more cautious when negotiating new shipbuilding contracts, but contracts already in the late stages of negotiation have not been affected.

He pointed out: "Up to now, our production and vessel delivery schedules are proceeding as planned. As market demands change, the Group remains in an advantageous position to effectively seize opportunities. Our current focus is to fill the remaining delivery slots for 2029 and gradually open up construction capacity for 2030."

In the shipping sector, the Group's fleet size stands at 31 vessels. In the first quarter of 2026, this segment disposed of 3 bulk carriers and added 1 new one.

The company also introduced the latest progress in its capacity expansion plan. The total investment for its Hongyuan factory project amounts to $417.8 million, which will add about 866,700 square meters of plant area and is expected to be completed by the end of 2026.

Meanwhile, the total investment for its Liquefied Natural Gas (LNG) receiving station business is approximately $278.6 million, with plans to complete it in the first half of 2027.

This March, Yangzijiang Shipbuilding announced that it would acquire a 10% equity stake in Poseidon Corp, the parent company of container ship owner and operator Seaspan Corporation, for $825.7 million.

In the business update, Ren Letian pointed out that this proposed acquisition, pending necessary approvals, is expected to strengthen customer relationships and enhance insights into long-term market demand.