This is down from US$3.3 billion in the year-ago period, but vessel deliveries remain on track
[SINGAPORE] Marine vessel manufacturer Yangzijiang Shipbuilding reported that its year-to-date order wins for the first quarter of 2025 amount to six vessels worth US$300 million.
This is around 5 per cent of its US$6 billion target for the 2025 financial year, it said in a quarterly business update on Thursday (May 22).
In the same period last year, it won orders for 38 vessels worth US$3.3 billion, or 74 per cent of its target. Yangzijiang Shipbuilding’s total order wins for FY2024 stood at 126, with a value of US$14.6 billion, the highest since its listing in 2022.
Ren Letian, the shipbuilder’s executive chairman and chief executive officer, said that US policies and global tariff actions prompted customers to adopt a wait-and-see approach, pushing back their decisions to order ships.
The shipmaker emphasised its continuing progress with vessel deliveries, saying that there have been no order delays nor cancellations to date. It has delivered 38 per cent of its target so far, or 21 out of a targeted 56 vessels for the financial year, and is on track to achieve its FY2025 delivery target.
Ren added: “Backed by a robust outstanding orderbook that provides revenue visibility up to 2028, the group is… taking a prudent approach and… closely monitoring the market trends.”
Yangzijiang Shipbuilding has 230 vessels on its order book with a total contract value of US$23.2 billion, and a delivery time frame between 2025 and 2030. The majority of these vessels (100) are container ships.
Shares of Yangzijiang Shipbuilding closed 0.5 per cent or S$0.01 higher at S$2.14, before the update.
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