Yangzijiang Shipbuilding has established a dedicated ship repair and conversion business, expanding beyond newbuildings as it targets demand for retrofit work and green upgrades.
The Singapore-listed group has set up Jiangsu Yangzi Hongda Shipbuilding and Repair as a wholly owned subsidiary with registered capital of $100 million. The new company will be based in the Tongzhou Bay Demonstration Zone in Nantong, Jiangsu province.
According to the group, the facility is planned as a green-focused base for ship repair, retrofit and vessel delivery. It will handle a broad range of vessel types, with a focus on energy-efficient upgrades and conversion work.
Yangzijiang Shipbuilding said the move supports its broader strategy of strengthening its core shipbuilding business while expanding into adjacent segments, as the industry shifts toward greener and more technology-driven operations. The new subsidiary will also support large vessel delivery and after-sales services, adding to the group’s vertically integrated structure.
With the new unit, Yangzijiang Shipbuilding now operates five shipyards across its network: Jiangsu New Yangzijiang Shipbuilding, Jiangsu Yangzi Xinfu Shipbuilding, Jiangsu Yangzi Mitsui Shipbuilding, Yangzi Hongyuan Shipbuilding, and the newly established Jiangsu Yangzi Hongda Shipbuilding and Repair. The group also holds a stake in Zhoushan Tsuneishi.
Yangzi Hongyuan Shipbuilding, launched in April 2024, remains under construction and is expected to be completed in 2026. Early-stage fabrication work has already started, and the first vessel delivery is scheduled for 2027.
The expansion comes as Yangzijiang Shipbuilding continues to add new orders. In the first quarter of 2026, the group secured contracts for 22 vessels worth about $980 million. Its total orderbook reached 256 ships valued at about $22.8 billion, with deliveries extending through 2030.
Earlier in 2026, the group also agreed to acquire a 10% stake in Poseidon Acquisition Corp, the holding company behind Seaspan, in a deal valued at about $825.7 million. A further 5% stake is being acquired separately by an investment vehicle linked to executive chairman Ren Letian.
