Yangzijiang Maritime Development marked its first day on the Singapore Stock Exchange’s mainboard with a string of new vessel deals, underscoring its ambitions as a growing maritime financial and asset management player.
The company said it has signed contracts with a Marshall Islands-based owner for the sale of four MR tankers worth a combined $180m. The 49,800 dwt ships—currently under construction at a Chinese yard—are slated for delivery between 2026 and 2027.
Yangzijiang Maritime, a spin-off from Yangzijiang Financial Holdings, listed on the SGX mainboard on November 18 after raising at least S$5.2m ($4m) through a private placement. The company opened at S$0.66 and closed at S$0.67, up 11.7% from the placement price after trading 58 million shares. That gives the group a market capitalisation of around S$2.34bn (about $1.75bn).
The company said the MR tanker sale fits its portfolio-optimisation strategy by enabling capital recycling. The group currently controls 76 vessels across tankers, gas carriers, bulkers, containerships and offshore support ships—an asset base that has lifted its net asset value from S$0.5bn in mid-2022 to S$2bn as of June 2025.
Alongside the tanker contracts, Yangzijiang Maritime also signed letters of intent for two joint ventures: four additional MR tankers of 49,800 dwt with a European shipowner and four bulk carriers of about 40,000 dwt with a Singapore-based shipowner.
All vessels will be built at partner shipyards in China for delivery between 2027 and 2028, with Yangzijiang Maritime holding majority stakes in both JVs. The company said the projects support its push to diversify its portfolio while expanding exposure to eco-friendly, modern tonnage.
Yangzijiang Maritime is led by founder Ren Yuanlin (pictured) the long-time architect behind Yangzijiang Shipbuilding, who stepped down from Yangzijiang Financial ahead of the spin-off.
“These transactions mark important progress in Yangzijiang Maritime’s strategic journey as a one-stop maritime financial solutions provider,” Ren said. “Capitalising on structural maritime tailwinds with our strong balance sheet, we are focused on optimising our fleet size with a disciplined capital approach and investing in modern, eco-friendly vessels.”
