Yangzijiang Shipbuilding plans to expand its facilities with a focus on LNG and clean energy vessels, according to Seatrade Maritime.
The Singapore-listed Chinese shipbuilder plans to acquire 866,671 sq metres of land in Xinqiao Park of the Jingjiang Economic and Technological Development Zone in Jingjiang City to set up a base for clean energy vessel manufacturing including LNG.
With 1,320 metres of shoreline on the Yangtze river the land for the new project and located adjacent to the shipbuilder’s existing Jiangsu Yangzi Xinfu Shipbuilding.
“This proximity will enable us to seamlessly integrate new facilities, thereby enhancing both productivity and operational efficiency,” Yangzijiang said in a statement to SGX.
The company plans to invest RMB3 billion ($412.8 million) over the next two years in the expansion project.
As of late May Yangzijiang a record orderbook value of $16.1bn, conmprising 193 vessels to be delivered by 2028, totalling 7.45m gt.
Also as of late May the company had reached 74% of its annual target for new orders with 38 vessels with a combined value of $3.3 billion.
According to the yard around 54% new orders were for green products, mainly including methanol dual-fuel vessels, LPG carriers and VLECs.