Yangzijiang Maritime Loads Up on Forward Tonnage With a 16 Ship Newbuild Slate
Yangzijiang Maritime is scaling its asset-accumulation play with up to 16 newbuilds across bulk and tanker segments, using a mix of firm orders and options at multiple Chinese yards. The headline for the market is not today’s capacity, but how this kind of multi-segment ordering can tighten future mid-size availability, reset replacement-cost expectations, and shape charter tone as deliveries roll in from 2027 through 2029 depending on which options get exercised.
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Yangzijiang Maritime’s newbuild move in one read
Yangzijiang Maritime has placed newbuilding orders for up to 16 vessels, structured as six firm ships plus ten options. The firm contracts cover two handysize bulkers around 40,000 dwt, two MR product tankers around 49,800 dwt, and two LR2 tankers around 114,000 dwt. The market impact starts now because this is a forward supply datapoint with an optional tail that can be switched on.
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Firm orders and delivery windows
Handysize bulk deliveries are scheduled between Apr 2027 and May 2028. MR deliveries run from Nov 2027 through Feb 2029. LR2 deliveries extend from Mar 2028 through Sep 2029. -
Why the optional tail matters
Options can expand the slate materially, especially in MRs, which can influence forward availability expectations and replacement-cost benchmarks. -
Commercial takeaway
The practical effect is a stronger “newer-spec supply pipeline” narrative across mid-size bulk and clean tanker segments, which can widen the gap in competitiveness versus older tonnage as deliveries approach.
This is an asset-accumulation step that can shift charter tone and asset pricing benchmarks before any ship is delivered, with the conversion pace of options as the main variable that determines how large the forward supply impact becomes.
| Order line | Verified snapshot | Market pathway | Commercial impact |
|---|---|---|---|
| Scale and structure | Up to 16 vessels total, described as six firm orders plus options for a further 10, placed across three Chinese yards. | Options create a “supply switch” that can be turned on or delayed depending on rates, yard slot pressure, and financing appetite. | Forward supply expectations shift sooner than deliveries, which can influence period charter tone and secondhand negotiations. |
| Handysize bulk | Four handysize bulkers around 40,000 dwt each, structured as two firm plus two optional, with deliveries scheduled between 28 Apr 2027 and 28 May 2028. | This size band competes heavily on regional haul patterns, so incremental additions matter most when port congestion eases and ships become more mobile. | Can soften “mid-size scarcity” narratives if exercised early, especially for operators needing flexible, multi-trade positioning. |
| Mid-range product tankers | Eight MRs around 49,800 dwt each, structured as two firm plus six optional, with deliveries scheduled between 15 Nov 2027 and 15 Feb 2029. | MR ordering tends to filter into the market through replacement-cost benchmarks and eco-efficiency expectations before physical supply arrives. | Raises competition pressure on older MR tonnage for longer-haul clean runs where fuel burn and emissions reporting matter more. |
| LR2 tankers | Four LR2s around 114,000 dwt each, structured as two firm plus two optional, with deliveries scheduled between 30 Mar 2028 and 26 Sep 2029. | LR2 commitments feed the long-cycle clean-trade narrative because LR2 economics often swing with refinery geography and product dislocation. | Extends the forward “new eco LR2” conversation into late 2029, shaping how charterers think about specifications and availability windows. |
| Segment mix message | The orderbook spans bulk plus clean-tanker segments rather than concentrating in a single class. | Multi-segment accumulation can move capital allocation expectations and signals a willingness to deploy across rate cycles. | Wider segment exposure can amplify market influence because it touches multiple chartering desks and multiple forward curves. |
| Delivery phasing | Bulk deliveries start earlier, MR deliveries sit in the 2027–2029 window, and LR2 deliveries stretch into late 2029. | Staggered arrivals mean the market may feel the psychological supply effect early, while the physical supply effect rolls in unevenly. | Uneven phasing can create short periods of tightness or slack depending on how many options convert and when they convert. |
| Replacement-cost anchor | A single multi-ship slate provides a current reference for yard slots and newbuild appetite at the time of ordering. | When replacement-cost anchors rise or firm, secondhand values and sale and purchase decision-making often follow. | Can affect asset pricing benchmarks by class and age, influencing whether owners hold, scrap, or rotate older tonnage. |
A multi-segment ordering slate does two things at once: it anchors a forward view of supply, and it creates an “option switch” that can be exercised when rates justify it. That combination can influence period charter tone, secondhand pricing discussions, and fleet age expectations well ahead of delivery.
Options are the real accelerant
The firm orders are meaningful, but the optional tail is what can amplify the future supply conversation. Options can convert quickly, or linger as “available supply” that affects sentiment without arriving on the water.
Mid-size competition pressure is the practical output
Handysize bulk and MR product tankers sit in the band where traders care about flexibility and fuel economics. A visible pipeline of newer units can widen the gap between newer-spec tonnage and older units on longer-haul employment.
LR2 timing extends the conversation into late 2029
The LR2 deliveries are scheduled furthest out. That tail matters because LR2 employment often swings with refinery dislocations and cross-basin product movements, which makes charterers sensitive to new-spec availability windows.
Replacement cost anchors the asset conversation
When a company places a multi-ship slate, it effectively prints a fresh reference point for yard appetite and slot availability. That can filter into secondhand negotiation posture, especially for ships that sit one generation behind.
Firm versus optional mix shown as intensity
These bars show the balance of firm orders versus options by segment. This is not a capacity forecast, it is a view of how much “convertible supply” sits behind the headline.
Delivery windows that matter to planners
Apr 2027 to May 2028 delivery window
The earliest deliveries sit here, which is when the physical supply narrative can start to show up in positioning and period cover discussions.
Nov 2027 to Feb 2029 delivery window
This window is long enough that the option decisions can stagger the arrival profile, shaping forward availability expectations rather than a single “fleet arrival moment.”
Mar 2028 to Sep 2029 delivery window
The LR2 tail extends the forward planning conversation deeper into 2029, which is often where market psychology matters as much as the immediate fleet count.
Firm ships (fixed)
6
Options exercised
0
Total pipeline from this slate
0
Unexercised optional tail
0
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