Yangzijiang Maritime Development has agreed vessel leasing contracts for 13 ships worth a combined SGD114.17m, or around $89.8m, as the Singapore-based company continues to expand its maritime portfolio.
The transactions cover 12 oil, chemical and product tankers, as well as one anchor handling tug supply vessel. Lease terms range from one to eight years.
The company said the mix of short- and long-term contracts is expected to deliver stable recurring revenue over the duration of the agreements, provided there are no unforeseen disruptions.
Chief executive Ren Yuanlin said the company remains confident in the long-term fundamentals of the maritime sector, pointing to structural shifts in global trade patterns and a growing tonnage-mile effect caused by geopolitical tensions that are forcing ships onto longer and more complex routes.
He also highlighted tightening shipyard capacity, changing maritime operating conditions and continued demand from global trade as factors supporting a broader fleet renewal cycle — a dynamic he said creates a favourable environment for Yangzijiang Maritime’s asset portfolio.
With a fleet of 85 vessels including newbuilding orders, the company believes it is well positioned to benefit from opportunities across the global shipping industry.
