Shipyard

Yangzijiang Cancels US$180m Tanker Contracts Over Sanctions Concerns

Yangzijiang Shipbuilding has terminated US$180 million in MR oil tanker contracts after new disclosures linked the buyer’s shareholder to alleged U.S. sanctions evasion.

Yangzijiang Shipbuilding cancels US$180 million worth of oil tanker contracts

Yangzijiang Shipbuilding terminates US$180 million oil tanker contracts. (Source: YZJ Shipbuilding)

29, September 2025
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Yangzijiang Shipbuilding (Holdings) Ltd. has cancelled four shipbuilding contracts worth about US$180 million after the buyer disclosed that its shareholder was allegedly linked to a scheme to circumvent U.S. sanctions.

The contracts, signed by three subsidiaries, involved four 50,000 DWT MR oil tankers scheduled for delivery in 2026–2027. A 10% deposit of US$18 million and an additional US$4.48 million installment for one vessel had been received, though no revenue was recognized as of June 30, 2025.

Yangzijiang said the cancellations are not expected to materially impact its 2025 financial results. The company has reserved all legal rights against the buyer.

Tags: contract termination, maritime industry, MR tankers, oil tankers, Shipbuilding, shipping contracts, US sanctions, Yangzijiang Shipbuilding

Editorial Note:
This article was prepared with the assistance of AI tools to enhance clarity and efficiency.
All information has been reviewed and verified by the HMT News editor.

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