Singapore-listed Yangzijiang Maritime Development has placed six firm 114,000 dwt LR2 tankers at China's Jiangsu Haifeng Shipbuilding, with options for two more — the shipyard allocation behind one of this year's most aggressive tanker contracting campaigns.

Shipbuilding database information seen by Splash identifies Yangzijiang Maritime as the owner behind the six firm LR2s, plus the optional pair. The firm vessels deliver across 2029 and 2030, while the optioned ships are pencilled in for 2030 and 2031.

The detail fills a gap in orders the Ren Yuanlin-led group has disclosed in stages through 2024 and beyond. In January, the company announced two firm 114,000 dwt LR2s plus two options without naming the yard, with deliveries scheduled between 2028 and 2029. Another four 114,000 dwt product/crude tankers followed in April as part of a 10-ship package that also comprised four 49,800 dwt product and chemical tankers and two 40,000 dwt bulkers. The company again stopped short of identifying the individual yards.

Haifeng has captured a significant share of the related MR programme too. In August, shipbuilding sources linked Yangzijiang Maritime to another four 50,000 dwt MRs and two LR2s at the yard in a package estimated at more than $320m. That took its reported tanker programme at Haifeng to 14 ships — a substantial commitment to a single mid-sized Chinese yard at a time when tanker slots for 2029-2031 delivery are tightening.

98-ship portfolio, and 12 already resold

The rapid contracting sits within an even broader newbuilding expansion. Last month, Yangzijiang Maritime formally announced another 24 firm ships and 16 options. The firm tranche comprised six 64,500 dwt ultramaxes, six 49,800 dwt product and chemical tankers, eight stainless steel chemical tankers and four 319,000 dwt VLCCs.

That announcement lifted the group's newbuilding portfolio to 98 ships including options: seven vessels already delivered, 75 firm ships under construction and 16 options. Twelve of the firm newbuildings had already been resold.

The resale count matters more than it might first appear. It illustrates a strategy of treating new tonnage as maritime investments rather than simply building an operating fleet. For carriers and tonnage providers watching product tanker supply, that means a meaningful share of Yangzijiang Maritime's tonnage will reach the market through chartering, leasing and pre-delivery sales — reshaping who ultimately operates these ships well after the keel-laying.

The company has repeatedly said it intends to recycle capital through that mix. Its April disclosure covering the 114,000 dwt tankers specifically noted that ships could be sold before delivery where attractive opportunities arise.

VLCCs form the second leg

Crude tankers have emerged as another major leg of the expansion. Yangzijiang Maritime moved into VLCCs in April with eight 319,000 dwt scrubber-fitted ships for delivery between 2028 and 2030, then added another four in September.

Twelve VLCCs from a first-time entrant in the crude segment is a considerable bet. Scrubber-fitted specification points the tonnage squarely at the crude trade lanes where fuel economics reward exhaust gas cleaning systems, and the 2028-2030 delivery window positions the ships to land as the current orderbook cycle plays out.

For product tanker operators, the Haifeng programme adds to a lengthening queue of LR2 and MR tonnage due late this decade. For charterers, the pre-delivery resale model means counterparties may change between order and delivery — a factor worth tracking in fleet lists. For the yards, Haifeng's capture of 14 reported Yangzijiang tankers anchors its orderbook well into 2031.

Yangzijiang Maritime's stated intent to keep recycling capital through chartering, leasing and pre-delivery sales suggests the contracting spree will continue to feed resale and leasing markets as the 2028-2031 deliveries approach.