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China's shipbuilding industry has grown by leaps and bounds over the last year, and so have its profits. Last week, privately-held Yangzijiang Shipbuilding reported a record-setting profit of $580 million in the first half, up by 37 percent year-on-year. <\/p>\n
Yangzijiang is China's largest private shipbuilder, and a bellwether for its commercial shipbuilding industry. The yard's revenue was slightly down in the first half, due to a lower share of container ships in its mix of projects during the period. This was offset in part by a higher share of dual-fuel orders in its boxship portfolio, since the technology is more expensive and yields better margins for the shipbuilder. Dual-fuel vessel orders account for about three-quarters of the yard's orderbook. <\/p>\n
In addition to performance at its own yards, profits were driven in part by operations at two Japanese joint ventures, Zhoushan Tsuneishi Shipbuilding and Yangzi Mitsui Shipbuilding, which contributed a combined $67 million in profits.<\/p>\n
New orders are coming in a bit more slowly than expected this year, Yangzijiang reported. The shipbuilder received just 14 new orders worth a combined $540 million in the first half, less than a tenth of its full-year order target for 2025. However, the full-year outlook is still good, as it is holding more than $2 billion worth of letters of intent for more orders, according to ratings agency CGS International. <\/p>\n
This is not an immediate issue – Yangzijiang has a backlog of 236 ships worth a combined $23 billion on order, near a record high, giving it a long runway in almost any market – but the slowdown is a change compared to last year's ordering boom. The Trump administration's planned port fees on Chinese-built ships (as proposed by the U.S. Office of the Trade Representative) is giving shipowners a reason to look at alternative shipbuilders outside of China; at the same time, tariff concerns have prompted some owners to rethink their ordering plans or wait for more clarity. <\/p>\n
Yangzijiang broke ground on a wholly new shipyard, Yangzi Hongyuan<\/a>, in February 2025. However, it has shelved a plan for a greenfield expansion yard, Jiangsu Yangzi Runze Shipbuilding<\/a>, which was to be located next to the existing Yangzi Mitsui Shipbuilding JV facility, according to CGS International's latest advisory<\/a>. The pause is among the few signs of any letup in the relentless growth of Chinese shipbuilding. Since 2023, the strong demand for Chinese-built ships has driven a wave of restarts at yards that were shuttered during the shipbuilding downturn of the 2010s, reviving old names under new ownership. <\/p>\n maritime-executive<\/p>\n","protected":false},"excerpt":{"rendered":" China's shipbuilding industry has grown by leaps and bounds over the last year, and so have its profits. Last week, privately-held Yangzijiang Shipbuilding reported a record-setting profit of $580 million in the first half, up by 37 percent year-on-year. Yangzijiang is China's largest private shipbuilder, and a bellwether for its commercial shipbuilding industry. The …<\/p>\n","protected":false},"author":1,"featured_media":65608,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[64],"tags":[1309,3543,2647,322,3440],"class_list":["post-65607","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-maritime-news","tag-posts","tag-profit","tag-record","tag-shipbuilding","tag-yangzijiang"],"_links":{"self":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/65607","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/comments?post=65607"}],"version-history":[{"count":0,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/65607\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media\/65608"}],"wp:attachment":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media?parent=65607"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/categories?post=65607"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/tags?post=65607"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}