The Yangzijiang Shipbuilding Group Co Ltd – based in Jingjiang, a county-level city administered by Taizhou city in East China's Jiangsu province – is steaming ahead in producing new vessels and it's setting records in the process.
It recently reported new ship orders worth $1.18 billion yuan, continuing to set the bar for confirmed orders in the history of Chinese private shipbuilding enterprises.
By the end of April, the company's orders had reached 147 vessels worth $10.98 billion. It delivered seven vessels in April and eight vessels are being delivered in May.
So far this year, the shipbuilder has delivered 21 ships, completing 36.8 percent of the annual delivery target and it is expected to deliver 57 ships this year.
In addition, the company also has orders for 39 bulk carriers, three liquefied ethylene gas (LEG) carriers, three liquefied petroleum gas (LPG) carriers, two large liquefied natural gas (LNG) carriers and 18 oil tankers.
Plans are for them to be delivered one after another from 2023 to 2026, ensuring the company's stable revenue for at least the next three years.
In 2021, with an annual revenue of 44.33 billion yuan ($6.65 billion), the group was ranked 245th in the list of Top 500 Chinese private enterprises and 155th in the list of Top 500 Chinese private manufacturers.
Production never stops: An aerial view of Yangzijiang Shipbuilding Group Co Ltd's shipyard in Jingjiang city, Jiangsu province. [Photo/zhjjwx.jsjjw.cn]